Sample records for oil prices crude from the National Library of Energy Beta (NLEBeta)

Note: This page contains sample records for the topic "oil prices crude" from the National Library of EnergyBeta (NLEBeta).
While these samples are representative of the content of NLEBeta,
they are not comprehensive nor are they the most current set.
We encourage you to perform a real-time search of NLEBeta
to obtain the most current and comprehensive results.

5 5 Notes: This slide shows the strong influence crudeoilprices have on retail distillate prices. The price for distillate fuel oil tracks the crudeprice increases seen in 1996 and the subsequent fall in 1997 and 1998. Distillate prices have also followed crudeoilprices up since the beginning of 1999. Actual data show heating oilprices on the East Coast in June at $1.20 per gallon, up 39 cents over last June. However, if heating oilprices are following diesel, they may be up another 5 cents in August. That would put heating oilprices about 40 cents over last August prices. Crudeoilprices are only up about 25 cents in August over year ago levels. The extra 15 cents represents improved refiner margins due in part to the very low distillate inventory level.

5 5 Notes: Retail distillate prices follow the spot distillate markets, and crudeoilprices have been the main driver behind distillate spot price increases until recently. Crudeoil rose about 36 cents per gallon from its low point in mid February 1999 to the middle of January 2000. Over this same time period, New York Harbor spot heating oil had risen about 42 cents per gallon, reflecting both the crudeprice rise and a return to a more usual seasonal spread over the price of crudeoil. The week ending January 21, heating oil spot prices in the Northeast spiked dramatically to record levels, closing on Friday at $1.26 per gallon -- up 50 cents from the prior week. Gulf Coast prices were not spiking, but were probably pulled slightly higher as the New York Harbor market began to

Sample records for oil prices crude from the National Library of Energy Beta (NLEBeta)

Note: This page contains sample records for the topic "oil prices crude" from the National Library of EnergyBeta (NLEBeta).
While these samples are representative of the content of NLEBeta,
they are not comprehensive nor are they the most current set.
We encourage you to perform a real-time search of NLEBeta
to obtain the most current and comprehensive results.

mid-January, 2000. WTI crudeoilprice rose about $17 per mid-January, 2000. WTI crudeoilprice rose about $17 per barrel or 40 cents per gallon from its low point in mid February 1999 to January 17, 2000. Over this same time period, New York Harbor spot heating oil had risen about 42 cents per gallon, reflecting both the crudeprice rise and the beginning of a return to a more usual seasonal spread over the price of crudeoil. The week ending January 21, distillate spot prices in the Northeast spiked dramatically to record levels, closing on Friday at $1.26 per gallon -- up 50 cents from the prior week. Gulf Coast prices were not spiking, but were probably pulled higher as the New York Harbor market began to draw on product from other areas. They closed at 83 cents per gallon, an increase of 11 cents from the prior Friday. Crudeoil had risen about 4 cents from

8 8 Notes: World oilprices have tripled from their low point in December 1998 to August this year, pulling product prices up as well. But crudeprices are expected to show a gradual decline as increased oil production from OPEC and others enters the world oil market. We won't likely see much decline this year, however, as prices are expected to end the year at about $30 per barrel. The average price of WTI was almost $30 per barrel in March, but dropped to $26 in April as the market responded to the additional OPEC production. However, prices strengthened again, averaging almost $32 in June, $30 in July, and $31 in August. The continued increases in crudeoilprices indicate buyers are having trouble finding crudeoil, bidding higher prices to obtain the barrels available.

Abstract This study examines price discovery among the two most prominent price benchmarks in the market for crudeoil, WTI sweet crude and Brent sweet crude. Using data on the most active futures contracts measured at the one-second frequency, we find that WTI maintains a dominant role in price discovery relative to Brent, with an estimated information share in excess of 80%, over a sample from 2007 to 2012. Our analysis is robust to different decompositions of the sample, over pit-trading sessions and non-pit trading sessions, segmentation of days associated with major economic news releases, and data measured to the millisecond. We find no evidence that the dominant role of WTI in price discovery is diminished by the price spread between Brent that emerged in 2008.

This study investigates the dynamic relationship between crudeoil and retail gasoline prices during the last 21 years and determines ... that date, the results show that gasoline prices include higher profit mar...

In order to reveal the stylized facts of world crudeoilprices, R/S (Rescaled Range Analysis) method is introduced in this paper. For illustration, WTI (West Texas Intermediate) and Brent daily crudeoilprices are used in this paper. The calculated ...

The answer to the question posed in the title is that tightness in the market will surely prevail through 1997. And as discussed herein, with worldwide demand expected to continue to grow, there will be a strong call on extra oil supply. Meeting those demands, however, will not be straightforward--as many observers wrongly believe--considering the industry`s practice of maintaining crude stocks at ``Just in time`` inventory levels. Further, impact will be felt from the growing rig shortage, particularly for deepwater units, and down-stream capacity limits. While these factors indicate 1997 should be another good year for the service industry, it is difficult to get any kind of consensus view from the oilprice market. With most observers` information dominated by the rarely optimistic futures price of crude, as reflected by the NYMEX, the important fact is that oilprices have remained stable for three years and increased steadily through 1996.

6 6 Notes: Retail prices for both gasoline and diesel fuel have risen strongly over the past two years, driven mostly by the rise in world crudeoilprices to their highest levels since the Persian Gulf War. Of course, there are a number of other significant factors that impact retail product prices, the most important of which is the supply/demand balance for each product. But the point of this slide is to show that generally speaking, as world crudeoilprices rise and fall, so do retail product prices. Because of the critical importance of crudeoilprice levels, my presentation today will look first at global oil supply and demand, and then at the factors that differentiate the markets for each product. I'll also talk briefly about natural gas, and the impact that gas

Asymmetric and nonlinear pass-through of crudeoilprices to gasoline and natural gas prices Ahmed distributed lags (NARDL) mod- el to examine the pass-through of crudeoilprices into gasoline and natural gas the possibility to quantify the respective responses of gasoline and natural gas prices to positive and negative

Forecasting Forecasting CrudeOil Spot Price Using OECD Petroleum Inventory Levels MICHAEL YE, âˆ— JOHN ZYREN, âˆ—âˆ— AND JOANNE SHORE âˆ—âˆ— Abstract This paper presents a short-term monthly forecasting model of West Texas Intermedi- ate crudeoil spot price using OECD petroleum inventory levels. Theoretically, petroleum inventory levels are a measure of the balance, or imbalance, between petroleum production and demand, and thus provide a good market barometer of crudeoilprice change. Based on an understanding of petroleum market fundamentals and observed market behavior during the post-Gulf War period, the model was developed with the objectives of being both simple and practical, with required data readily available. As a result, the model is useful to industry and government decision-makers in forecasting price and investigat- ing the impacts of changes on price, should inventories,

6 6 Notes: Propane prices have been high this year for several reasons. Propane usually follows crudeoilprices more closely than natural gas prices. As crudeoilprices rose beginning in 1999, propane has followed. In addition, some early cold weather this year put extra pressure on prices. However, more recently, the highly unusual surge in natural gas prices affected propane supply and drove propane prices up. Propane comes from two sources of supply: refineries and natural gas processing plants. The very high natural gas prices made it more economic for refineries to use the propane they normally produce and sell than to buy natural gas. The gas processing plants found it more economic to leave propane in the natural gas streams than to extract it for sale separately.

Sample records for oil prices crude from the National Library of Energy Beta (NLEBeta)

Note: This page contains sample records for the topic "oil prices crude" from the National Library of EnergyBeta (NLEBeta).
While these samples are representative of the content of NLEBeta,
they are not comprehensive nor are they the most current set.
We encourage you to perform a real-time search of NLEBeta
to obtain the most current and comprehensive results.

This paper is the first attempt to investigate: (i) is the crudeoil (WTI) price significantly related to the regional ethylene prices in the Naphtha intensive ethylene markets of the Far East, North West Europe, and the Mediterranean? (ii) What drives the regional ethylene prices? The paper is motivated by the recent and growing debate on the lead-lag relationship between crudeoil and ethylene prices. Our findings, based on the long-run structural modelling approach of Pesaran and Shin, and subject to the limitations of the study, tend to suggest: (i) crudeoil (WTI) price is cointegrated with the regional ethylene prices (ii) our within-sample error-correction model results tend to indicate that although the ethylene prices in North West Europe and the Mediterranean were weakly endogenous, the Far East ethylene price was weakly exogenous both in the short and long term. These results are consistent, during most of the period under review (2000.1–2006.4) with the surge in demand for ethylene throughout the Far East, particularly in China and South Korea. However, during the post-sample forecast period as evidenced in our variance decompositions analysis, the emergence of WTI as a leading player as well, is consistent with the recent surge in WTI price (fuelled mainly, among others, by the strong hedging activities in the WTI futures/options and refining tightness) reflecting the growing importance of input cost in determining the dynamic interactions of input and product prices.

Administration, Office of Oil and Gas, October 2006 Administration, Office of Oil and Gas, October 2006 1 The Relationship Between CrudeOil and Natural Gas Prices by Jose A. Villar Natural Gas Division Energy Information Administration and Frederick L. Joutz Department of Economics The George Washington University Abstract: This paper examines the time series econometric relationship between the Henry Hub natural gas price and the West Texas Intermediate (WTI) crudeoilprice. Typically, this relationship has been approached using simple correlations and deterministic trends. When data have unit roots as in this case, such analysis is faulty and subject to spurious results. We find a cointegrating relationship relating Henry Hub prices to the WTI and trend capturing the relative demand and supply effects over the 1989-through-2005 period. The dynamics of the relationship

The use of parametric GARCH models to characterise crudeoilprice volatility is widely observed in the empirical literature. In this paper, we consider an alternative approach involving nonparametric method to model and forecast oilprice return volatility. Focusing on two crudeoil markets, Brent and West Texas Intermediate (WTI), we show that the out-of-sample volatility forecast of the nonparametric GARCH model yields superior performance relative to an extensive class of parametric GARCH models. These results are supported by the use of robust loss functions and the Hansen's (2005) superior predictive ability test. The improvement in forecasting accuracy of oilprice return volatility based on the nonparametric GARCH model suggests that this method offers an attractive and viable alternative to the commonly used parametric GARCH models.

6 6 Notes: One can use a simple model to deal with price/fundamental relationships. This one predicts monthly average WTI price as a function of OECD total petroleum stock deviations from the normal levels. The graph shows the model as it begins predicting prices in 1992. It shows how well the model has predicted not only the direction, but the magnitude of prices over this 8+ year period. While the model is simple and not perfect, it does predict the overall trends and, in particular, the recent rise in prices. It also shows that prices may have over-shot the fundamental balance for a while -- at least partially due to speculative concerns over Mideast tensions, winter supply adequacy, and Iraq's export policies. Prices moved lower in December, and even undershot briefly the

6 6 Notes: Spot WTI crudeoilprices broke $35 and even $36 per barrel in November as anticipated boosts to world supply from OPEC and other sources did not show up in actual stocks data. The recent decline in prices seems to be more the result of an unraveling of speculative pressures than a change in underlying fundamentals. Prices had been running higher than supply/demand fundamentals would have indicated throughout the fall months as a result of rising Mideast tensions, concern over the adequacy of distillate supplies, and expectations of Iraqi supply interruptions. But Mideast tensions seemed to ease in December and the market appeared to perceive a quick return of Iraqi crudeoil supplies at full capacity. Pledges by Saudi Arabia/OPEC to offset a longer term Iraqi

In this article, we examine whether WTI and Brent crudeoil spot and futures prices (at 1, 3 and 6 months to maturity) contain a unit root with one and two structural breaks, employing weekly data over the period 1991–2004. To realise this objective we employ Lagrange multiplier (LM) unit root tests with one and two endogenous structural breaks proposed by Lee and Strazicich [2003. Minimum Lagrange multiplier unit root test with two structural breaks. Review of Economics and Statistics, 85, 1082–1089; 2004. Minimum LM unit root test with one structural break. Working Paper no. 04–17, Department of Economics, Appalachian State University]. We find that each of the oilprice series can be characterised as a random walk process and that the endogenous structural breaks are significant and meaningful in terms of events that have impacted on world oil markets.

Abstract The sharp volatility of West Texas Intermediate (WTI) crudeoilprice in the past decade triggers us to investigate the price bubbles and their evolving process. Empirical results indicate that the fundamental price of WTI crudeoil appears relatively more stable than that of the market-trading price, which verifies the existence of oilprice bubbles during the sample period. Besides, by allowing the WTI crudeoilprice bubble process to switch between two states (regimes) according to a first-order Markov chain, we are able to statistically discriminate upheaval from stable states in the crudeoilprice bubble process; and in most of time, the stable state dominates the WTI crudeoilprice bubbles while the upheaval state usually proves short-lived and accompanies unexpected market events.

9 9 Notes: Spot WTI prices broke $35 and even $36 per barrel in November as anticipated boosts to world supply from OPEC and other sources did not show up in actual stocks data. The recent decline in prices seems to be more the result of an unraveling of speculative pressures than a change in underlying fundamentals. Prices had been running higher than supply/demand fundamentals would have indicated throughout the fall months as a result of rising Mideast tensions, concern over the adequacy of distillate supplies, and expectations of Iraqi supply interruptions. But Mideast tensions seemed to ease in December and the market appeared to perceive a quick return of Iraqi crudeoil supplies at full capacity. Pledges by Saudi Arabia/OPEC to offset a longer term Iraqi

5 5 Notes: As we just saw, one of the primary factors impacting gasoline price is the crudeoilprice. This graph shows monthly average spot West Texas Intermediate crudeoilprices. Spot WTI crudeoilprices broke $36 per barrel in November briefly as anticipated boosts to world supply from OPEC and other sources did not show up in actual stocks data. Crudeoilprices are expected to be about $30 per barrel for the rest of this year, but note the uncertainty bands on this projection. They give an indication of how difficult it is to know what these prices are going to do. Also, EIA does not forecast volatility. This relatively flat forecast could be correct on average, with wide swings around the base line. With the EIA forecast for crudeprices staying high this year,

Sunco Oil manufactures three types of gasoline (gas 1, gas 2 and gas 3). Each type is produced by blending three types of crudeoil (crude 1, crude 2 and crude 3). The sales price per barrel of gasoline and the purchase price per barrel of crudeoil are given in following table: Gasoline Sale Price per barrel Gas 1

This paper documents a systematic investigation on the predictability of short-term trends of crudeoilprices on a daily basis. In stark contrast with longer-term predictions of crudeoilprices, short-term pred...

Mick Jagger Explains High CrudeOilPrices How can Mick Jagger of The Rolling Stones help explain the current high crudeoilprice? It does not relate to Mick' short stint at the London School of Economics, the oil industry operates on the same principle, at least in the short run. The industry relies on proven

This study begins by asking whether fluctuations in the price of crudeoil have affected employment and the rate of unemployment in the US. After reviewing previous assessments of the issue, the existence of an empirical relationship between the rate of unemployment and crudeoilprice volatility is established using Granger causality. Subsequently, the nature of the relationship is estimated with the results suggesting that at least three full years are required before the measurable impact of a percentage change in the real price of crudeoil on the change in unemployment is exhausted. Finally, the structural stability of the functional relationship between the change in unemployment and the volatility of the price of crudeoil and the percentage change in gross national product is examined.

Sample records for oil prices crude from the National Library of Energy Beta (NLEBeta)

Note: This page contains sample records for the topic "oil prices crude" from the National Library of EnergyBeta (NLEBeta).
While these samples are representative of the content of NLEBeta,
they are not comprehensive nor are they the most current set.
We encourage you to perform a real-time search of NLEBeta
to obtain the most current and comprehensive results.

This study focuses on the impact of fluctuations in the price of crudeoil on agricultural employment in the United States. After reviewing previous assessments of the issue, the existence of an empirical relationship between agricultural employment and crudeoilprice volatility is established using Granger causality. Subsequently, the nature of the relationship is estimated with the results suggesting that at least three full years are required before the measurable impacts of a percentage change in the real price of crudeoil on the change in agricultural employment are exhausted. Finally, the structural stability of the functional relationship between the change in agricultural employment and the volatility of the price of crudeoil, the percentage changes in expected net farm income, realized technological innovation, and the wage rate is examined.

By applying two nonlinear Granger causality testing methods and rolling window strategy to explore the relationship between speculative activities and crudeoilprices, the unidirectional Granger causality from s...

6 6 Notes: Of course, petroleum product prices don't move in lockstep to crudeoilprices, for a number of reasons. We find it useful to look at variations in the spread between product and crudeoilprices, in this case comparing spot market prices for each. The difference between heating oil and crudeoil spot prices tends to vary seasonally; that is, it's generally higher in the winter, when demand for distillate fuels is higher due to heating requirements, and lower in the summer. (Gasoline, as we'll see later, generally does the opposite.) However, other factors affecting supply and demand, including the relative severity of winter weather, can greatly distort these "typical" seasonal trends. As seen on this chart, the winters of 1995-96 and 1996-97 featured

In this study, an empirical mode decomposition (EMD) based neural network ensemble learning paradigm is proposed for world crudeoil spot price forecasting. For this purpose, the original crudeoil spot price series were first decomposed into a finite, and often small, number of intrinsic mode functions (IMFs). Then a three-layer feed-forward neural network (FNN) model was used to model each of the extracted IMFs, so that the tendencies of these \\{IMFs\\} could be accurately predicted. Finally, the prediction results of all \\{IMFs\\} are combined with an adaptive linear neural network (ALNN), to formulate an ensemble output for the original crudeoilprice series. For verification and testing, two main crudeoilprice series, West Texas Intermediate (WTI) crudeoil spot price and Brent crudeoil spot price, are used to test the effectiveness of the proposed EMD-based neural network ensemble learning methodology. Empirical results obtained demonstrate attractiveness of the proposed EMD-based neural network ensemble learning paradigm.

This paper presents a model based on multilayer feedforward neural network to forecast crudeoil spot price direction in the short-term, up to three days ahead. A great deal of attention was paid on finding the optimal ANN model structure. In addition, several methods of data pre-processing were tested. Our approach is to create a benchmark based on lagged value of pre-processed spot price, then add pre-processed futures prices for 1, 2, 3,and four months to maturity, one by one and also altogether. The results on the benchmark suggest that a dynamic model of 13 lags is the optimal to forecast spot price direction for the short-term. Further, the forecast accuracy of the direction of the market was 78%, 66%, and 53% for one, two, and three days in future conclusively. For all the experiments, that include futures data as an input, the results show that on the short-term, futures prices do hold new information on the spot price direction. The results obtained will generate comprehensive understanding of the cr...

The U.S. Department of Energy prepared this Final Statement to FEA-FES-77-7 to assess the environmental and socioeconomic implications of a rulemaking on crudeoilpricing incentives as pertains to the full range of oil production technologies (present as well as anticipated.)

Abstract This paper provides a set of empirical evidence from five Northern Mediterranean countries that are subject to similar refinery reference prices regarding the relative sensitivity of crudeoilprices and exchange rate on (pre-tax) petroleum product prices. The empirical evidence reveals that a one percent increase in exchange rate (depreciation) increases petroleum product prices less than a one percent increase in crudeoilprices does in the long run. In the short run, however, a one percent increase in exchange rate increases petroleum product prices more than a one percent increase in crudeoilprices does.

The purpose of this paper is to analyze the dynamics of crudeoilprices of OPEC and non-OPEC countries using ... cointegration. To capture the long-run asymmetric price transmission mechanism, we develop an erro...

Abstract Due to the complexity of crudeoilprice series, traditional statistics-based forecasting approach cannot produce a good prediction performance. In order to improve the prediction performance, a novel compressed sensing based learning paradigm is proposed through integrating compressed sensing based denoising (CSD) and certain artificial intelligence (AI), i.e., CSD-AI. In the proposed learning paradigm, CSD is first performed as a preprocessor for the original data of international crudeoilprice to eliminate the noise, and then a certain powerful AI tool is employed to conduct prediction for the cleaned data. In particular, the process of CSD aims to reduce the level of noise which pollutes the data, and to further enhance the prediction performance of the AI model. For verification purpose, international crudeoilprice series of West Texas Intermediate (WTI) are taken as sample data. Empirical results demonstrate that the proposed CSD-AI learning paradigm significantly outperforms all other benchmark models including single models without CSD process and hybrid models with other denoising techniques, in terms of level and directional accuracies. Furthermore, in the case of different data samples with different time ranges, the proposed model performs the best, indicating that the proposed CSD-AI learning paradigm is an effective and robust approach in crudeoilprice prediction.

Abstract In this paper we investigate how differently stock returns of oil producers and oil consumers are affected from oilprice changes. We find that stock returns of oil producers are affected positively by oilprice changes regardless of whether oilprice is increasing or decreasing. For oil consumers, oilprice changes do not affect all consumer sub-sectors and where it does, this effect is heterogeneous. We find that oilprice returns have an asymmetric effect on stock returns for most sub-sectors. We devise simple trading strategies and find that while both consumers and producers of oil can make statistically significant profits, investors in oil producer sectors make relatively more profits than investors in oil consumer sectors

4 4 Notes: While the relatively low stock forecast (although not as low as last winter) adds some extra pressure to prices, the price of crudeoil could be the major factor affecting heating oilprices this winter. The current EIA forecast shows residential prices averaging $1.29 this winter, assuming no volatility. The average retail price is about 7 cents less than last winter, but last winter included the price spike in November 2000, December 2000, and January 2001. Underlying crudeoilprices are currently expected to be at or below those seen last winter. WTI averaged over $30 per barrel last winter, and is currently forecast to average about $27.50 per barrel this winter. As those of you who watch the markets know, there is tremendous uncertainty in the amount of crudeoil supply that will be available this winter. Less

7 7 Notes: Spot WTI prices broke $35 and even $36 per barrel in November as anticipated boosts to world supply from OPEC and other sources failed to find much realization in actual stocks data. The idea that stocks are still languishing at below-normal levels is particularly persuasive when one views current levels (for key consuming regions) relative to "normal" values which account for the long-term trend in OECD stocks. We believe that monthly average WTI prices will stay around $30 per barrel for the first part of 2001. This is a noticeable upward shift in our projected average prices from even a month ago. The shift reflects greater emphasis on the lack of stock builds and less emphasis on the assumption that supply from OPEC and non-OPEC suppliers may be exceeding demand by 1-2

Fuel prices play a crucial role in the supply side of many economies across the globe. Hence, it is important to ensure that fuel pricing is efficient and free from any asymmetric behaviour. This paper examines the long- and short-run relationships between the price of unleaded petrol in Singapore (Mogas95) and the price of Tapis crudeoil using 4,929 daily observations (4 June 1993-25 April 2012). As expected, we found that these two key energy indicators are cointegrated. We then developed a modelling framework that allowed us to test for adjustment asymmetries that distinguish between the size and sign of disequilibria, proxied by three different error correction terms. We found no significant evidence of any asymmetric pricing behaviour and market inefficiency. However, our results revealed a significant weekly cyclical pattern, with petrol being more expensive on Thursdays/Fridays than the rest of the week.

The impact of two possible future crudeoilprice scenarios -- high and low price cases -- is assessed for three population groups: majority (non-Hispanic and nonblack), black, and Hispanic. The two price scenarios were taken from the energy security'' report published by the US Department of Energy in 1987. Effects of the two crudeoilprice scenarios for the 1986--95 period are measured for energy demand and composition and for share of income spent on energy by the three population groups at both the national and census-region levels. The effects on blacks are marginally more adverse than on majority householders, while effects on Hispanics are about the same as those on the majority. Little change is seen in percentage of income spent on energy over the forecast period. Both Hispanic and black households would spend a larger share of their incomes on energy than would majority households. The relatively adverse effects in the higher price scenario shift from the South and West Census regions to the Northeast and Midwest. 24 refs., 7 figs., 22 tabs.

Abstract The price of crudeoil is fluctuating. Researchers focus on the fluctuation of crudeoilprices or relationship between crudeoil futures and spot prices. However, the relationship also presents fluctuation which draws our attention. This paper designed a complex network approach for examining the dynamics of the co-movement between crudeoil futures and spot prices. We defined the co-movement modes by a coarse-graining procedure and analyzed the transformation characteristics between the modes by weighted complex network models and evolutionary models. We analyzed the parameters of these models by using the West Texas Intermediate crudeoil future prices and the Daqing (China) crudeoil spot prices from November 25, 2002 to March 22, 2011 as sample data. The results indicate that the co-movement modes of the crudeoil futures and spot prices are clustered around a few critical modes during the evolution. The co-movement of the crudeoilprices has the characteristic of grouping, and the conversion of the co-movement modes requires an average of 5–7 days. There are some important transitional phases in the evolution of prices, and the results validate the current trend of rising oilprices. This research may provide information for the oilprice decision-making process, and more importantly, provides a new approach for examining the co-movement between variables.

Sample records for oil prices crude from the National Library of Energy Beta (NLEBeta)

Note: This page contains sample records for the topic "oil prices crude" from the National Library of EnergyBeta (NLEBeta).
While these samples are representative of the content of NLEBeta,
they are not comprehensive nor are they the most current set.
We encourage you to perform a real-time search of NLEBeta
to obtain the most current and comprehensive results.

Abstract We evaluate alternative models of the volatility of commodity futures prices based on high-frequency intraday data from the crudeoil futures markets for the October 2001–December 2012 period. These models are implemented with a simple GMM estimator that matches sample moments of the realized volatility to the corresponding population moments of the integrated volatility. Models incorporating both stochastic volatility and jumps in the returns series are compared on the basis of the overall fit of the data over the full sample period and subsamples. We also find that jumps in the returns series add to the accuracy of volatility forecasts.

The Box-Jenkins' Auto Regressive Integrated Moving Average (ARIMA) modelling approach has been applied for the time series analysis of monthly average prices of Oman crudeoil taken over a period of 10 years. Several seasonal and non-seasonal ARIMA models were identified. These models were then estimated and compared for their adequacy using the significance of the parameter estimates, mean square errors and Modified Box-Pierce (Ljung-Box) Chi-Square statistic. Based on these criterion a multiplicative seasonal model of the form ARIMA (1,1,5)x(1,1,1) was recommended for short term forecasting.

Abstract We investigate whether changes in the US dollar exchange rates of eighteen currencies help explain the movements in the price of crudeoil by using a wavelet-based nonlinear autoregressive distributed lags model (W-NARDL). This model allows one to capture the short- and long-run nonlinearities while taking into account the potential of extreme movements and excluding the noise components of the underlying data. We find evidence of significant and asymmetric pass-through of exchange rates to oilprices in both the short and long run. In particular, the long-run negative changes in exchange rates (dollar depreciation) exert a greater impact on oilprices than do the long-run positive changes (dollar appreciation), even though the sign of the effect is commonly negative in most cases. Our results finally suggest that denoising the crudeoil and exchange rate data is effective and necessary before their interactions can be analyzed.

One of the first places where consumers are feeling the impact of One of the first places where consumers are feeling the impact of this winter's market pressures is in home heating oilprices. This chart shows prices through February 28, the most recent EIA data available. The general level of heating oilprices each year is largely a function of crudeoilprices, and the price range over the course of the heating season is typically about 10 cents per gallon. Exceptions occur in unusual circumstances, such as very cold weather, large changes in crudeoilprices, or supply problems. Heating oilprices for East Coast consumers started this winter at just over $1 per gallon, but rising crudeoilprices drove them up nearly 21 cents through mid-January. With the continuing upward pressure from crudeoil markets, magnified by a regional shortfall of heating oil

Slide 2 of 11 Notes: One of the first places where consumers are feeling the impact of this winterÂ’s market pressures is in home heating oilprices. This chart shows prices through February 7, the most recent EIA data available. The general level of heating oilprices each year is largely a function of crudeoilprices, and the price range over the course of the heating season is typically about 10 cents per gallon. Exceptions occur in unusual circumstances, such as very cold weather, large changes in crudeoilprices, or supply problems. Heating oilprices for East Coast consumers started this winter at just over $1 per gallon, but rising crudeoilprices drove them up nearly 21 cents per gallon through mid-January. With the continuing upward pressure from crudeoil markets, magnified by a regional shortfall of

9 9 Notes: Consistent with OECD inventories, U.S. inventories are low. They have been well below the normal range for over one year. Crudeoil stocks in the United States, while tending to increase of late toward more normal levels, remain well below average. At the end of December, crudeoil stocks were near 289 million barrels, about 4% below the 5-year average, and slightly higher than at the end of 1999. The latest weekly data, for the week ending January 19, show U.S. crudeoil stocks at 286 million barrels, just about a million barrels above their level a year ago. Near-term tightness in U.S. crudeoil markets have kept current prices above forward prices, reflecting current strength in crudeoil demand relative to supply. Relatively strong U.S. oil demand next year should keep crudeoil

Explaining EIA CrudeOil and Explaining EIA CrudeOil and Petroleum Product Price Data and Comparing with Other U.S. Government Data Sources, 2001 to 2010 December 2012 (February 2013-Revised Tables 5, 6 and 15 and associated links) Independent Statistics & Analysis www.eia.gov U.S. Department of Energy Washington, DC 20585 U.S. Energy Information Administration | Explaining EIA CrudeOil and Petroleum Product Price Data and Comparing with Other U.S. Government Data Sources, 2001 to 2010 ii This report was prepared by the U.S. Energy Information Administration (EIA), the statistical and analytical agency within the U.S. Department of Energy. By law, EIA's data, analyses, and forecasts are independent of approval by any other officer or employee of the United States Government. The views

The composition and physical properties of crudeoil vary widely from one reservoir to another within an oil field, as well as from one field or region to another. Although all oils consist of hydrocarbons and their derivatives, the proportions of various types of compounds differ greatly. This makes some oils more suitable than others for specific refining processes and uses. To take advantage of this diversity, one needs access to information in a large database of crudeoil analyses. The CrudeOil Analysis Database (COADB) currently satisfies this need by offering 9,056 crudeoil analyses. Of these, 8,500 are United States domestic oils. The database contains results of analysis of the general properties and chemical composition, as well as the field, formation, and geographic location of the crudeoil sample. [Taken from the Introduction to COAMDATA_DESC.pdf, part of the zipped software and database file at http://www.netl.doe.gov/technologies/oil-gas/Software/database.html] Save the zipped file to your PC. When opened, it will contain PDF documents and a large Excel spreadsheet. It will also contain the database in Microsoft Access 2002.

This paper aims to explain crudeoilprice volatility and its relationship respect to some ... financial variables. Finding the main drivers of oilprice dynamics is a crucial element for the ... existence of a l...

Implications of Increasing U.S. Crude Implications of Increasing U.S. CrudeOil Production By John Powell June 18, 2013 U.S. crudeoil production is up dramatically since 2010 and will continue to grow rapidly; this has implications for: John Powell June 18, 2013 2 * Refinery operations * Refinery investment * Logistics infrastructure investment * Exports of petroleum products * Exports of crudeoil Increased U.S. crudeoil production has resulted in: John Powell June 18, 2013 3 * Declines in U.S. crude imports * Changes to refinery operations * Logistical constraints in moving crude from production areas to refining areas * Discounted prices for domestic "landlocked" crude vs. international seaborne crude

Abstract Oil has been the number one source of energy in the world since the middle of the twentieth century. The world is very dependent on petroleum for transportation fuels, petrochemicals and asphalt. But ever increasing demand has caused the price of oil to spike in recent years, and only the world economic crisis has been able to temper demand and bring the price down to more reasonable levels. However, the demand and price are likely to shoot up again when the economy recovers. At the same time, the peak oil theory of M. King Hubbert predicts that world oil production is likely to peak soon. This prediction raises questions about what source of energy will come to the fore when oil is not able to keep up.

Declining oilprices boost chemical profits ... As a consequence of the oilprice drop, the composition of feedstocks to steam crackers, which are sources for major-volume olefins and many aromatics, is being changed. ... Where possible, more heavy feedstocks obtained from crudeoil—naphthas and gas oils—are used in place of light hydrocarbons such as ethane. ...

5 5 Notes: One of the first places where consumers are feeling the impact of this winterÂ’s market pressures is in home heating oilprices. This chart shows prices for the last four winters, with this yearÂ’s prices shown through January 24, the most recent EIA data available. The general level of heating oilprices each year is largely a function of crudeoilprices, and the price range over the course of the heating season is typically about 10 cents per gallon. Exceptions occur in unusual circumstances, such as very cold weather, large changes in crudeoilprices, or supply problems. Although heating oilprices for consumers started this winter at similar levels to those in 1997, they already rose nearly 20 cents per gallon through mid-January. With the continuing upward pressure from crude

Most commodity quotations have continued to fall in recent months as a result of the weaker global economy. Crudeoilprices, on the other hand, had been ... to fall. Is the success of the oil exporters' change i...

Sample records for oil prices crude from the National Library of Energy Beta (NLEBeta)

Note: This page contains sample records for the topic "oil prices crude" from the National Library of EnergyBeta (NLEBeta).
While these samples are representative of the content of NLEBeta,
they are not comprehensive nor are they the most current set.
We encourage you to perform a real-time search of NLEBeta
to obtain the most current and comprehensive results.

4 4 Notes: This graph shows monthly average spot West Texas Intermediate crudeoilprices. Spot WTI crudeoilprices peaked last fall as anticipated boosts to world supply from OPEC and other sources did not show up in actual stocks data. So where do we see crudeoilprices going from here? Crudeoilprices are expected to be about $28-$30 per barrel for the rest of this year, but note the uncertainty bands on this projection. They give an indication of how difficult it is to know what these prices are going to do. Also, EIA does not forecast volatility. This relatively flat forecast could be correct on average, with wide swings around the base line. Let's explore why we think prices will likely remain high, by looking at an important market barometer - inventories - which measures the

Impacts of the Venezuelan CrudeOil Production Loss Impacts of the Venezuelan CrudeOil Production Loss EIA Home > Petroleum > Petroleum Feature Articles Impacts of the Venezuelan CrudeOil Production Loss Printer-Friendly PDF Impacts of the Venezuelan CrudeOil Production Loss By Joanne Shore and John Hackworth1 Introduction The loss of almost 3 million barrels per day of crudeoil production in Venezuela following a strike in December 2002 resulted in an increase in the world price of crudeoil. However, in the short term, the volume loss probably affected the United States more than most other areas. This country receives more than half of Venezuela's crude and product exports, and replacing the lost volumes proved difficult. U.S. imports of Venezuelan crudeoil dropped significantly in December 2002 relative to other years

Factors affecting the relationship betweeen crudeoil and natural gas prices Factors affecting the relationship betweeen crudeoil and natural gas prices Annual Energy Outlook 2010 with Projections to 2035 Factors affecting the relationship between crudeoil and natural gas prices Background Over the 1995-2005 period, crudeoilprices and U.S. natural gas prices tended to move together, which supported the conclusion that the markets for the two commodities were connected. Figure 26 illustrates the fairly stable ratio over that period between the price of low-sulfur light crudeoil at Cushing, Oklahoma, and the price of natural gas at the Henry Hub on an energy-equivalent basis. Figure 26. Ratio of low-sulfur light crudeoilprices to natural gas prices on an energy-equivalent basis, 1995-2035 Click to enlarge Â» Figure source and data excel logo

Because of the higher projected crudeoilprices and because of Because of the higher projected crudeoilprices and because of increased tightening in the Northeast heating oil market since the last Outlook, we now expect prices this winter for residential heating oil deliveries to peak at $1.52 per gallon in January. This is significantly above the monthly peak reached last winter. Because these figures are monthly averages, we expect some price movements for a few days to be above the values shown on the graph. This winter's expected peak price would be the highest on record in nominal terms, eclipsing the high set in February 2000. However, in real (constant dollar) terms, both of these prices remain well below the peak reached in March 1981, when the average residential heating oilprice was $1.29 per gallon, equivalent to over $2.50 per gallon today.

Sample records for oil prices crude from the National Library of Energy Beta (NLEBeta)

Note: This page contains sample records for the topic "oil prices crude" from the National Library of EnergyBeta (NLEBeta).
While these samples are representative of the content of NLEBeta,
they are not comprehensive nor are they the most current set.
We encourage you to perform a real-time search of NLEBeta
to obtain the most current and comprehensive results.

Abstract The aim of this paper is to identify bubbles in oilprices by using the “exponential fitting” methodology proposed by Watanabe et al. (2007) [28,29]. We use the daily US dollar closing crudeoilprices of West Texas Intermediate (WTI) covering the 1986:01:02–2013:07:09 and the Brent for the 1987:05:20–2013:07:09 periods. The distinguishing feature of this study from the previous studies is that this is the first study in the literature showing the existence of bubbles in crudeoilprices. We found that there are four distinct periods of persistent bubbles in the crudeoilprices since 1986. Two of these persistent bubbles are before 2000 and two of them are after 2000. We conclude that further research is needed to understand better how futures markets may impact the oilprice formation.

Expectations of shorter oil supplies in the case of a war in the Middle East pushed crudeoilprices upwards for many months, but in March prices started to fall significantly even before the war against Iraq had...

Following a brief interruption, the recovery in world commodity prices witnessed during the first months of the year has continued. Crudeoilprices reached their highest level for 16 months. The increase in prices

Oil and Petroleum Products > Refining CrudeOilOil and Petroleum Products > Refining CrudeOil Energy Explained - Home What Is Energy? Forms of Energy Sources of Energy Laws of Energy Units and Calculators Energy Conversion Calculators British Thermal Units (Btu) Degree-Days U.S. Energy Facts State and U.S. Territory Data Use of Energy In Industry For Transportation In Homes In Commercial Buildings Efficiency and Conservation Energy and the Environment Greenhouse Gases Effect on the Climate Where Emissions Come From Outlook for Future Emissions Recycling and Energy Nonrenewable Sources Oil and Petroleum Products Refining CrudeOil Where Our Oil Comes From Imports and Exports Offshore Oil and Gas Use of OilPrices and Outlook Oil and the Environment Gasoline Where Our Gasoline Comes From Use of Gasoline Prices and Outlook

6 6 Notes: With the worst of the heating season (October-March) now behind us, we can be fairly confident that retail heating oilprices have seen their seasonal peak. Relatively mild weather and a softening of crudeoilprices have helped ease heating oilprices. Spot heating oilprices recently reached their lowest levels in over six months. Because of relatively balmy weather in the Northeast in January and February, heating oil stock levels have stabilized. Furthermore, heating oil production has been unusually robust, running several hundred thousand barrels per day over last year's pace. Currently, EIA expects winter prices to average around $1.41, which is quite high in historical terms. The national average price in December 2000 was 44 cents per gallon above the December 1999 price. For February

Prompted by the contemporaneous spike in coal, oil, and natural gas prices, this paper evaluates the degree of market integration both within and between crudeoil, coal, and natural gas markets. Our approach yields parameters that can be readily tested against a priori conjectures. Using daily price data for five very different crudeoils, we conclude that the world oil market is a single, highly integrated economic market. On the other hand, coal prices at five trading locations across the United States are cointegrated, but the degree of market integration is much weaker, particularly between Western and Eastern coals. Finally, we show that crudeoil, coal, and natural gas markets are only very weakly integrated. Our results indicate that there is not a primary energy market. Despite current price peaks, it is not useful to think of a primary energy market, except in a very long run context.

Short Term Energy Outlook Short Term Energy Outlook 1 STEO Supplement: Why are oilprices so high? During most of the 1990s, the West Texas Intermediate (WTI) crudeoilprice averaged close to $20 per barrel, before plunging to almost $10 per barrel in late 1998 as a result of the Asian financial crisis slowing demand growth while extra supply from Iraq was entering the market for the first time since the Gulf War. Subsequently, as Organization of Petroleum Exporting Countries (OPEC) producers more closely adhered to a coordinated production quota and reduced output, crudeoilprices not only recovered, but increased to about $30 per barrel as demand grew as Asian economies recovered. The most recent increase in crudeoilprices began in 2004, when they almost doubled from 2003 levels, rising from about $30 per barrel at the end

Gap between U.S. and world oilprices to be cut by more than Gap between U.S. and world oilprices to be cut by more than half over next two years The current wide price gap between a key U.S. and a world benchmark crudeoil is expected to narrow significantly over the next two years. The spot price for U.S. benchmark West Texas Intermediate crudeoil, also known as WTI , averaged $94 a barrel in 2012. That's $18 less than North Sea Brent oil, which is a global benchmark crude that had an average price of $112 last year. The new monthly forecast from the U.S. Energy Information Administration expects the price gap between the two crudeoils to shrink to $16 a barrel this year and then to $8 in 2014. That's when WTI would average $91 a barrel and Brent would be at $99. The smaller price gap will result from new pipelines coming on line that will lower the cost of

To understand the crudeoilprice determination process it is necessary to extend the analysis beyond the markets for petroleum. Crudeoilprices are determined in two closely related markets: the markets for crudeoil and the markets for refined products. An econometric-linear programming model was developed to capture the linkages between the markets for crudeoil and refined products. In the LP refiners maximize profits given crudeoil supplies, refining capacities, and prices of refined products. The objective function is profit maximization net of crudeoilprices. The shadow price on crudeoil gives the netback price. Refined product prices are obtained from the econometric models. The model covers the free world divided in five regions. The model is used to analyze the impacts on the markets of policies that affect crudeoil supplies, the demands for refined products, and the refining industry. For each scenario analyzed the demand for crudeoil is derived from the equilibrium conditions in the markets for products. The demand curve is confronted with a supply curve which maximizes revenues providing an equilibrium solution for both crudeoil and product markets. The model also captures crudeoilprice differentials by quality. The results show that the demands for crudeoil are different across regions due to the structure of the refining industries and the characteristics of the demands for refined products. Changes in the demands for products have a larger impact on the markets than changes in the refining industry. Since markets for refined products and crudeoil are interrelated they can't be analyzed individually if an accurate and complete assessment of a policy is to be made. Changes in only one product market in one region affect the other product markets and the prices of crudeoil.

This chart highlights residential heating oilprices for the current and This chart highlights residential heating oilprices for the current and past heating season. As you can see, prices have started the heating season, about 40 to 50 cents per gallon higher than last year at this time. The data presented are from EIA's State Heating Oil and Propane Program. We normally collect and publish this data twice a month, but given the low stocks and high prices, we started tracking the prices weekly. These data will also be used to determine the price trigger mechanism for the Northeast Heating Oil Reserve. The data are published at a State and regional level on our web site. The slide is to give you some perspective of what is happening in these markets, since you probably will get a number of calls from local residents about their heating fuels bills

This patent describes and improvement in the process of transporting waxy crudeoils through a pipeline. It comprises: incorporating into the crudeoil an effective pour point depressant amount of an additive comprising a polymer selected from the group consisting of copolymers of ethylene and acrylonitrile, and terpolymers of ethylene, acrylonitrile and a third monomer selected from the group consisting of vinyl acetate, carbon monoxide, alkyl acrylates, alkyl methacrylates, alkyl vinyl ethers, vinyl chloride, vinyl fluoride, acrylic acid, and methacrylic acid, wherein the amount of third monomer in the terpolymer ranges from about 0.1 to about 10.0 percent by weight.

9 9 Notes: Because of the higher projected crudeoilprices and because of increased tightening in the Northeast heating oil market since the last Outlook, we now expect prices this winter for residential heating oil deliveries to peak at about $1.52 per gallon in January. This is significantly above the monthly peak reached last winter. Because these figures are monthly averages, we expect some price movements for a few days to be above the values shown on the graph. This winter's expected peak price would be the highest on record in nominal terms, eclipsing the high set in February 2000. However, in real (constant dollar) terms, both of these prices remain well below the peak reached in March 1981, when the average residential heating oilprice was $1.29 per gallon, equivalent to over $2.50 per gallon today.

Crude vegetable oils contain various minor substances like phospholipids, coloring pigments, and free fatty acids (FFA) that may affect quality of the oil. Reduction of energy costs and waste disposal are major concerns for many oil refiners who...

Reports that the most important feature of the partial combustion cracking (PCC) process is its ability to convert heavy petroleum fractions to light olefins with minimum residue. Presents diagram of the PCC process; graph of feedstock cost vs. return on investment (ROI); and tables with average ethylene yields, cracking yields, and PCC vs. LPG and naphtha cracking. Finds that the 10% difference in capital between the PCC and the naphtha feed case is due mainly to the cost of the acid gas and sulfur handling sections required for the PCC, but not for a naphtha cracker. The very favorable ROI and ethylene costs are due to the relative difference in feedstock pricing. Sensitivity of ROI to changes in feedstock was also studied for the PCC cases. The ratio of cost of high-sulfur fuel oil (HSFO) to average crudeprice is used to indicate the substantial effect of feedstock price on the attractiveness of the project. Concludes that with HSFO at 85 to 100% of crude value, the PCC represents an excellent investment for future ethylene needs.

Sample records for oil prices crude from the National Library of Energy Beta (NLEBeta)

Note: This page contains sample records for the topic "oil prices crude" from the National Library of EnergyBeta (NLEBeta).
While these samples are representative of the content of NLEBeta,
they are not comprehensive nor are they the most current set.
We encourage you to perform a real-time search of NLEBeta
to obtain the most current and comprehensive results.

CrudeOil Imports From Persian Gulf CrudeOil Imports From Persian Gulf January - June 2013 | Release Date: August 29, 2013 | Next Release Date: February 27, 2014 2013 CrudeOil Imports From Persian Gulf Highlights It should be noted that several factors influence the source of a company's crudeoil imports. For example, a company like Motiva, which is partly owned by Saudi Refining Inc., would be expected to import a large percentage from the Persian Gulf, while Citgo Petroleum Corporation, which is owned by the Venezuelan state oil company, would not be expected to import a large percentage from the Persian Gulf, since most of their imports likely come from Venezuela. In addition, other factors that influence a specific company's sources of crudeoil imports would include the characteristics of various crudeoils as well as a company's economic

DISPLACEMENT OF CRUDEOIL BY CARBON DIOXIDE A Thesis by OLUSEGUN OMOLE Submitted to the Graduate College of Texas ASM University in part';al fulfillment of the requirement for the degree of MASTER OF SCIENCE December 1980 Major Subject...: Petroleum Engineering DISPLACEMENT OF CRUDEOIL BY CARBON DIOXIDE A Thesis by OLUSEGUN OMOLE Approved as to style and content by: hairman of Committee / (Member (Member (Member (Hea o Depart ent December 1980 ABSTRACT Displacement of CrudeOil...

Sample records for oil prices crude from the National Library of Energy Beta (NLEBeta)

Note: This page contains sample records for the topic "oil prices crude" from the National Library of EnergyBeta (NLEBeta).
While these samples are representative of the content of NLEBeta,
they are not comprehensive nor are they the most current set.
We encourage you to perform a real-time search of NLEBeta
to obtain the most current and comprehensive results.

Along with heating oilprices, the distillate supply squeeze has Along with heating oilprices, the distillate supply squeeze has severely impacted diesel fuel prices, especially in the Northeast. Diesel fuel is bascially the same product as home heating oil. The primary difference is that diesel has a lower sulfur content. When heating oil is in short supply, low sulfur diesel fuel can be diverted to heating oil supply. Thus, diesel fuel prices rise with heating heating oilprices. Retail diesel fuel prices nationally, along with those of most other petroleum prices, increased steadily through most of 1999. But prices in the Northeast jumped dramatically in the third week of January. Diesel fuel prices in New England rose nearly 68 cents per gallon, or 47 percent, between January 17 and February 7. While EIA does not have

This study investigates U.S. crudeoil spot-market prices to determine if they were cyclical, autoregressive, or random in nature. The fact that oil-price volatility emerged only with the rise of spot markets meant that data for this type of an analysis were not previously available. The hypothesis tested was that U.S. crudeoilprice changes are neither cyclical nor autocorrelated, and are, therefore, random. Daily data on U.S. crudeoil spot market prices (for the period of December 3, 1984 to November 4, 1988) were analyzed using spectral analysis; this converts time-series data into a frequency series, where it can be analyzed using more-powerful statistical methods. The spectral results of the price series gave a maximum power spectrum of 0.026, which is considerably smaller than the significance level of 0.052, considered acceptable using a 99% confidence level. The conclusion reached was that there was no significant cyclicality or autocorrelation in the data. This indicated that the U.S. crudeoilprices are efficient, and that it would not be possible to predict crudeoilprice changes by using historical price data, seasonality, or business cycles.

We outline initial concepts for an immune inspired algorithm to evaluate and predict oilprice time series data. The proposed solution evolves a short term pool of trackers dynamically, with each member attempting to map trends and anticipate future price movements. Successful trackers feed into a long term memory pool that can generalise across repeating trend patterns. The resulting sequence of trackers, ordered in time, can be used as a forecasting tool. Examination of the pool of evolving trackers also provides valuable insight into the properties of the crudeoil market.

Sample records for oil prices crude from the National Library of Energy Beta (NLEBeta)

Note: This page contains sample records for the topic "oil prices crude" from the National Library of EnergyBeta (NLEBeta).
While these samples are representative of the content of NLEBeta,
they are not comprehensive nor are they the most current set.
We encourage you to perform a real-time search of NLEBeta
to obtain the most current and comprehensive results.

Abstract Crudeoil is a major driver of the global economy and its price dynamics are a key indicator for producers, consumers and investors. The increasing volatility of crudeoilprices in the last decade has encouraged many researchers to model its dynamics. Recent studies have tried to explain this dynamics by taking into account the role of various market participants many of whom have increasingly used crudeoil for portfolio diversification. We propose a modified supply–demand framework which assumes that the real price of crudeoil is affected not only by fundamental shocks but also by financial shocks. We assess the role of what we define as the financial shock component when describing the dynamics of the real crudeoilprice and endeavor to measure a possible equilibrium relationship between standard supply/demand variables and our financial shock component. Using a Dynamic Ordinary Least Squares (DOLS) approach and an ECM framework we are able to empirically assess the significant role of “hedging pressure” on the real price of oil and find evidence that the impact of the “hedging pressure” is not only affecting quick reverting short-term deviations but also the structural long-run equilibrium of the oilprice.

Along with heating oilprices, the distillate supply squeeze has Along with heating oilprices, the distillate supply squeeze has severely impacted diesel fuel prices, especially in the Northeast. Retail diesel price data are available sooner than residential heating oil data. This graph shows that diesel prices turned the corner sometime after February 7 and are heading down. Retail diesel fuel prices nationally, along with those of most other petroleum prices, increased steadily through most of 1999. Prices jumped dramatically (by over 11 cents per gallon) in the third week of January, and rose 2 or more cents a week through February 7. The increases were much more rapid in the Northeast. From January 17 through February 7, diesel fuel prices in New England rose nearly 68 cents per gallon, or 47 percent. Prices in the Mid-Atlantic region rose about 58

7 7 Notes: Because of the higher projected crudeoilprices and because of increased tightening in the Northeast heating oil market since the last Outlook, we have raised expected peak prices this winter for residential heating oil deliveries to $1.55 per gallon (January) compared to $1.43 per gallon in last month's projections. This is significantly above the monthly peak reached last winter. Because these figures are monthly averages, we expect some price movements for a few days to be above the values shown on the graph. Primary distillate inventories in the United States failed to rise significantly in November despite some speculation that previous distributions into secondary and tertiary storage would back up burgeoning production and import volumes into primary storage that month. Average

Like the rest of the OECD countries, US petroleum inventories are low and Like the rest of the OECD countries, US petroleum inventories are low and are not expected to recover to the normal range this winter. Preliminary data for the end of October indicate it may be the lowest level for crudeoil stocks in the United States since weekly data began being collected in 1982, when crudeoil inputs to refineries were about 3-4 million barrels per day less than today. U.S. crudeoil stocks stood at about 283 million barrels on November 3, according to EIA's latest weekly survey. This puts them about 21 million barrels or 7% below the level seen at the same time last year. Current market conditions do suggest some improvement in the near term. Days supply of commercial crudeoil stocks in the United States is estimated to have been 19 days in October, the lowest for that month since

7 7 Notes: Residential heating oilprices reflect a similar pattern to that shown in spot prices. However, like other retail petroleum prices, they tend to lag changes in wholesale prices in both directions, with the result that they don't rise as rapidly or as much, but they take longer to recede. This chart shows the residential heating oilprices collected under the State Heating Oil and Propane Program (SHOPP), which only runs during the heating season, from October through March. The spike in New York Harbor spot prices last winter carried through to residential prices throughout New England and the Central Atlantic states. Though the spike actually lasted only a few weeks, residential prices ended the heating season well above where they had started.

Is There Evidence of Super Cycles in OilPrices?* Abdel M. Zellou and John T. Cuddington** March 22: is there evidence of super cycles in crudeoilprices? On one hand, one might expect the strong demand associated analysis suggests that there is strong evidence of super cycles in oilprices in the post-WWII period

5 5 Notes: U.S. crudeoil stocks stood at about 289 million barrels on September 8, according to EIA's latest survey. This puts them about 24 million barrels below the level seen at the same time last year. Current market conditions do not suggest much improvement in the near term. We probably ended last month (August 2000) with the lowest level for end-of-August crudeoil stocks (289 million barrels) in the United States since 1976, when crudeoil inputs to refineries were about 2 million barrels per day less than today. However, by EIA data, we have seen (at least slightly) lower crude stocks in recent months, including an end-December 1999 level of 284 million barrels. The American Petroleum Institute (API), which also surveys petroleum supply and demand

Sample records for oil prices crude from the National Library of Energy Beta (NLEBeta)

Note: This page contains sample records for the topic "oil prices crude" from the National Library of EnergyBeta (NLEBeta).
While these samples are representative of the content of NLEBeta,
they are not comprehensive nor are they the most current set.
We encourage you to perform a real-time search of NLEBeta
to obtain the most current and comprehensive results.

Bodman on OPEC's Decision to Cut Bodman on OPEC's Decision to Cut CrudeOil Production Statement from Energy Secretary Bodman on OPEC's Decision to Cut CrudeOil Production October 19, 2006 - 9:17am Addthis "We continue to believe that it is best for oil producers and consumers alike to allow free markets to determine issues of supply, demand and price. Despite the recent downturn in crudeoilprices, they remain at historically high levels, clearly indicating a global demand for petroleum products. And as past experience has shown, market intervention is not beneficial for producing or consuming nations. "While U.S. gasoline prices have fallen, crude inventories are high and our economy remains strong, we must reduce America's dependence on foreign energy sources, as President Bush has said time and again. To do so, we

This paper empirically tests whether traders' positions predict crudeoil futures prices through a case study of the 2008 oil market turbulence. It is found that the three-week-long trend of traders' net long position significantly forecasts prices when the prices excessively rise from April to July 2008. In specific, speculator's trend forecasts price continuation, whereas the hedger's trend predicts price reversals. However, during the price-collapsing period, no significant predictability is found. These findings provide two implications. First, the hedging-pressure theory can be supported in oil futures market when the market prices excessively rise and traders' position data are used as trend concept. Second, the recent argument on 'the 2008 oil bubble' asserting that excessive rise in oilprices during the second quarter of 2008 is associated with speculator's positions can be supported.

8 8 Notes: As global production changed relative to demand, the world moved from a period of "over supply" in 1998 to one of "under supply" in 1999 and 2000. Inventories are a good means of seeing the imbalance between petroleum production and demand. For example, when production exceeds demand, inventories rise. A large oversupply will put downward pressure on prices, while undersupply will cause prices to rise. OECD inventories illustrate the changes in the world balance. OECD inventories rose to very high levels during 1997 and 1998 when production exceeded demand and prices plummeted to almost $10 in December 1998. However, when inventories fell to the low levels seen above during 1999 and early 2000 as demand exceeded production, prices rose to $35 per barrel at

Crude and refined oilprices have been relatively high and volatile on a sustained basis since 1999. This paper considers the pass through of oilprices into consumer liquid (i.e. petrol, diesel and heating) fuel prices in such an environment. The pass through of oilprices into consumer liquid fuel prices has already been addressed extensively in the literature. Nonetheless much of this literature has either focused on the United States or on a time period when oilprices were relatively stable, or has used monthly data. The main contribution of this paper is a comprehensive combination of many features that have been considered before but rarely jointly. These features include: (1) the analysis of the euro area as an aggregate and a large number of countries (the initial 12 member states); (2) the consideration of different time periods; (3) the modelling of the data in raw levels rather than in log levels. This turns out to have important implications for our findings; (4) the use of high frequency (weekly) data, which, as results will suggest, are the lowest frequency one should consider; (5) the investigation of the different stages of the production chain from crudeoilprices to retail distribution — refining costs and margins, distribution and retailing costs and margins; (6) the examination of prices including and excluding taxes — excise and value-added; (7) the modelling of prices for three fuel types — passenger car petrol and diesel separately and home heating fuel oil; (8) lastly we also address the issue of possible asymmetries, allowing for the pass through to vary according to (a) whether price are increasing or decreasing and (b) whether price levels are above or below their equilibrium level. The main findings are as follows: First, as distribution and retailing costs and margins have been broadly stable on average, the modelling of the relationship between consumer prices excluding taxes and upstream prices in raw levels rather than in logarithms has important implications for the stability of estimates of pass through when oilprice levels rise significantly. Second, considering spot prices for refined prices improves significantly the fit of the estimated models relative to using crudeoilprices. It also results in more economically meaningful results concerning the extent of pass through. Third, oilprice pass through occurs quickly, with 90% occurring within three to five weeks. Fourth, using a relatively broad specification allowing for asymmetry in the pass through from upstream to downstream prices, there is little evidence of statistically significant asymmetries. Furthermore, even where asymmetry is found to be statistically significant, it is generally not economically significant. Lastly, these results generally hold across most euro area countries with few exceptions.

(26) However, it has to be noted that dilution of crude petroleum oils radically changes the photophysics of fluorescence emission and, as such, the Shpol’skii method is not suitable for exploring crudeoil fluorescence from neat, undiluted oils. ... with shorter wavelength excitation (to 325 nm); all crude petroleums have nearly the same relative dependence of quantum yield on excitation wavelength. ...

Sample records for oil prices crude from the National Library of Energy Beta (NLEBeta)

Note: This page contains sample records for the topic "oil prices crude" from the National Library of EnergyBeta (NLEBeta).
While these samples are representative of the content of NLEBeta,
they are not comprehensive nor are they the most current set.
We encourage you to perform a real-time search of NLEBeta
to obtain the most current and comprehensive results.

Since the oilprice shock of 1973–74, researchers have waged ... national income. Studies examining the relationship between oilprices, oil consumption, and real output have produced remarkably ... to dramatical...

This article investigates the correlation structure of the global crudeoil market using the daily returns of 71 oilprice time series across the world from 1992 to 2012. We identify from the correlation matrix six clusters of time series exhibiting evident geographical traits, which supports Weiner's (1991) regionalization hypothesis of the global oil market. We find that intra-cluster pairs of time series are highly correlated while inter-cluster pairs have relatively low correlations. Principal component analysis shows that most eigenvalues of the correlation matrix locate outside the prediction of the random matrix theory and these deviating eigenvalues and their corresponding eigenvectors contain rich economic information. Specifically, the largest eigenvalue reflects a collective effect of the global market, other four largest eigenvalues possess a partitioning function to distinguish the six clusters, and the smallest eigenvalues highlight the pairs of time series with the largest correlation coefficie...

3 of 17 3 of 17 Notes: After declining in 1999 due to a series of announced production cuts, OPEC 10 (OPEC countries excluding Iraq) production has been increasing during 2000. EIA's projected OPEC production levels for fourth quarter 2000 have been lowered by 300,000 barrels per day from the previous Outlook. Most of this decrease is in OPEC 10 production, which is estimated to be 26.5 million barrels per day. EIA still believes that only Saudi Arabia, and to a lesser degree, the United Arab Emirates, will have significant short-term capacity to expand production. EIA's forecast assumes that OPEC 10 crudeoil production will decline by 400,000 barrels per day to 26.1 million barrels per day by mid-2001. Iraqi crudeoil production is estimated to have increased from 2.3 million

World oilprices expected to fall ... The good news is that world oilprices probably will fall somewhat in the near future. ... The bad news is that oilprices probably will begin rising again in the mid-1980s, and even the optimists suspect that they will continue to do so thereafter. ...

OilPrice and the Dollar Virginie Coudert , ValÂ´erie Mignon , Alexis PenotÂ§ 6th April 2005 Abstract The aim of this paper is to test whether a stable long-term relationship exists between oilprices and causality study between the two variables. Our results indicate that causality runs from oilprices

9 9 Notes: EIA assumes in its base case that OPEC 10 production averages about 0.6 million barrels per day less in the 1st quarter of 2001 than was produced in the 4th quarter of 2000. This is based on the assumption that beginning in February 2001, OPEC 10 production is 1 million barrels per day less than the estimate for December 2000. From the fourth quarter of 1999 to the 4th quarter of 2000, worldwide oil production increased by about 3.7 million barrels per day to a level of 77.8 million barrels per day. After being sharply curtailed in December 2000, EIA's base case assumes that Iraqi oil exports only partially return in January. By February, EIA assumes Iraqi crudeoil production reaches 3 million barrels per day, roughly the peak levels reached last year.

EIA assumes in its base case that OPEC 10 production averages about EIA assumes in its base case that OPEC 10 production averages about 0.6 million barrels per day less in the 1st quarter of 2001 than was produced in the 4th quarter of 2000. This is based on the assumption that beginning in February 2001, OPEC 10 production is 1 million barrels per day less than the estimate for December 2000. Over the course of the past year, worldwide oil production has increased by about 3.7 million barrels per day to a level of 77.8 million barrels per day in the last months of 2000. After being nearly completely curtailed in December 2000, EIA's base case assumes that Iraqi oil exports only partially return in January. By February, EIA assumes Iraqi crudeoil production reaches 3 million barrels per day, roughly the peak levels reached last year.

6 6 Notes: EIA assumes in its base case that OPEC 10 production averages about 0.6 million barrels per day less in the 1st quarter of 2001 than was produced in the 4th quarter of 2000. This is based on the assumption that beginning in February 2001, OPEC 10 production is 1 million barrels per day less than the estimate for December 2000. From the fourth quarter of 1999 to the 4th quarter of 2000, worldwide oil production increased by about 3.8 million barrels per day to a level of 77.9 million barrels per day. After being sharply curtailed in December and January, EIA's base case assumes that Iraqi oil exports return closer to more normal levels in February. By the second half of 2001, EIA assumes Iraqi crudeoil production reaches 3 million barrels per day, roughly the peak levels

did not reflect the true volatility in crudeoilprices. The name posted oilprice was derived from a sheet that was posted in a producing field. The WTI price data were collected from Energy Information Administration (EIA) website25. EIA... projects; we correlated historical expenses data with oilprice. Figs. 3.3 and 3.4 are graphs of the production and drilling costs correlations with oilprice. The historical oilfield drilling and production data was taken from EIA website and the Energy...

Sample records for oil prices crude from the National Library of Energy Beta (NLEBeta)

Note: This page contains sample records for the topic "oil prices crude" from the National Library of EnergyBeta (NLEBeta).
While these samples are representative of the content of NLEBeta,
they are not comprehensive nor are they the most current set.
We encourage you to perform a real-time search of NLEBeta
to obtain the most current and comprehensive results.

5 of 15 5 of 15 Notes: The severity of this spot price increase is causing dramatic changes in residential home heating oilprices, although residential price movements are usually a little slower and spread out over time compared to spot prices. Wholesale prices increased over 50 cents from January 17 to January 24, while retail increased 44 cents in New York. Diesel prices are showing a similar pattern to residential home heating oilprices, and are indicating that home heating oilprices may not have peaked yet, although spot prices are dropping. Diesel prices in New England and the Mid-Atlantic increased 30-40 cents January 24 over the prior week, and another 13-15 cents January 31. Spot prices plummeted January 31, closing at 82 cents per gallon, indicating the worst part of the crisis may be over, but it is still a

Sample records for oil prices crude from the National Library of Energy Beta (NLEBeta)

Note: This page contains sample records for the topic "oil prices crude" from the National Library of EnergyBeta (NLEBeta).
While these samples are representative of the content of NLEBeta,
they are not comprehensive nor are they the most current set.
We encourage you to perform a real-time search of NLEBeta
to obtain the most current and comprehensive results.

Sample records for oil prices crude from the National Library of Energy Beta (NLEBeta)

Note: This page contains sample records for the topic "oil prices crude" from the National Library of EnergyBeta (NLEBeta).
While these samples are representative of the content of NLEBeta,
they are not comprehensive nor are they the most current set.
We encourage you to perform a real-time search of NLEBeta
to obtain the most current and comprehensive results.

Sample records for oil prices crude from the National Library of Energy Beta (NLEBeta)

Note: This page contains sample records for the topic "oil prices crude" from the National Library of EnergyBeta (NLEBeta).
While these samples are representative of the content of NLEBeta,
they are not comprehensive nor are they the most current set.
We encourage you to perform a real-time search of NLEBeta
to obtain the most current and comprehensive results.

Sample records for oil prices crude from the National Library of Energy Beta (NLEBeta)

Note: This page contains sample records for the topic "oil prices crude" from the National Library of EnergyBeta (NLEBeta).
While these samples are representative of the content of NLEBeta,
they are not comprehensive nor are they the most current set.
We encourage you to perform a real-time search of NLEBeta
to obtain the most current and comprehensive results.

vertically-oriented, cylindrical coalescer. The electrical conductivity of each phase of the water-in-oil emulsion was varied to determine their effects on the rate of coalescence. Both light and intermediate grades of crudeoil emulsions were modified...

A process is provided for removing heavy metal compounds from heavy crudeoil by mixing the heavy crudeoil with tar sand; preheating the mixture to a temperature of about 650.degree. F.; heating said mixture to up to 800.degree. F.; and separating tar sand from the light oils formed during said heating. The heavy metals removed from the heavy oils can be recovered from the spent sand for other uses.

Sample records for oil prices crude from the National Library of Energy Beta (NLEBeta)

Note: This page contains sample records for the topic "oil prices crude" from the National Library of EnergyBeta (NLEBeta).
While these samples are representative of the content of NLEBeta,
they are not comprehensive nor are they the most current set.
We encourage you to perform a real-time search of NLEBeta
to obtain the most current and comprehensive results.

The Phillips Petroleum International Corporation Asia (PPICA) Xijiang Field Development Project is a unique project resulting in the production of a waxy crudeoil. The crudeoil is produced on two platforms feeding a final production unit located on an FPSO (Floating Production, Storage and Off-loading) vessel located between the platforms. The crude from these two fields contains a high concentration of wax and has a relatively high pour point temperature. The crude composition and oil properties are listed in two tables. Special consideration was needed with respect to operating temperatures, start-up and shutdown procedures.

This research is designed to determine if there are any naturally occurring constituents in crudeoils that can be chemically altered to bring about increased oil production. An extract containing only the polar organic compounds of the crudeoil was obtained by using a modification of the ASTM-2007 procedure. Chemical characterization of the polar compounds were carried out using high pressure liquid chromatography (HPLC) and gas chromatography. The HPLC analyses indicated a range of polar organic compound content of 10 crudeoils from 1.6% to 12.7%. Wettability determinations show that by adding a small amount of the polar fraction from a crudeoil, to a mineral oil, a 40 to 111% change of wettability toward a more oil-wet system will occur, depending on the specific extract used.

OPEC agrees to lower oilprices, production ... The attempt to stabilize prices and salvage some of OPEC's eroding control of the world oil market forced the cartel to make the first price cut in its history. ... U.S. government officials, predicting that the price ultimately would fall to between $25 and $27 per barrel from the new benchmark level of $29, said the new price would increase domestic production of goods and services 0.4% and cut consumer prices in the U.S. nearly 1.0%. ...

World oilprices and production trends in AEO2010 World oilprices and production trends in AEO2010 Annual Energy Outlook 2010 with Projections to 2035 World oilprices and production trends in AEO2010 In AEO2010, the price of light, low-sulfur (or Â“sweetÂ”) crudeoil delivered at Cushing, Oklahoma, is tracked to represent movements in world oilprices. EIA makes projections of future supply and demand for Â“total liquids,Â” which includes conventional petroleum liquidsÂ—such as conventional crudeoil, natural gas plant liquids, and refinery gainÂ—in addition to unconventional liquids, which include biofuels, bitumen, coal-to-liquids (CTL), gas-to-liquids (GTL), extra-heavy oils, and shale oil. World oilprices can be influenced by a multitude of factors. Some tend to be short term, such as movements in exchange rates, financial markets, and weather, and some are longer term, such as expectations concerning future demand and production decisions by the Organization of the Petroleum Exporting Countries (OPEC). In 2009, the interaction of market factors led prompt month contracts (contracts for the nearest traded month) for crudeoil to rise relatively steadily from a January average of $41.68 per barrel to a December average of $74.47 per barrel [38].

This paper surveys the literature on the economic effects of oil market developments. It assesses the economic theory behind oilprice impacts and presents how the existing literature has analysed the link betwee...

Many of the present difficulties of the world economy have been blamed on the two oil-price explosions of the 1970s. Professor Chichilnisky shows ... , at least in the case of the oil-importing developing countri...

Investor Investor Flows and Speculation New Evidence on Investor Flows and OilPrices References Investor Flows and the 2008 Boom/Bust in OilPrices Kenneth J. Singleton Graduate School of Business Stanford University August, 2011 Introduction Investor Flows and Speculation New Evidence on Investor Flows and OilPrices References Investor Flows, Speculation, and OilPrices The role of speculation (broadly construed) in the dramatic rise and subsequent sharp decline in oilprices during 2008? Many attribute these swings to changes in fundamentals of supply and demand, within representative agent models. At the same time there is mounting evidence of the "financialization" of commodity markets. Objective: investigate the impact of investor flows and financial market conditions on crude-oil futures prices. Introduction Investor Flows and Speculation New Evidence on

Sample records for oil prices crude from the National Library of Energy Beta (NLEBeta)

Note: This page contains sample records for the topic "oil prices crude" from the National Library of EnergyBeta (NLEBeta).
While these samples are representative of the content of NLEBeta,
they are not comprehensive nor are they the most current set.
We encourage you to perform a real-time search of NLEBeta
to obtain the most current and comprehensive results.

Contango in Cushing? Contango in Cushing? Evidence on Financial-Physical Interactions in the U.S. CrudeOil Market Background The U.S. Energy Information Administration (EIA) launched its Energy and Financial Markets Initiative (EFMI) in September 2009. As part of this initiative, EIA and the University of Oklahoma (OU) surveyed the current academic literature pertaining to price formation, volatility, and the role of hedging and speculation in the global oil market. The survey results were summarized in "Factors Influencing OilPrices: A Survey of the Current State of Knowledge in the Context of the 2007-08 OilPrice Volatility," which was released in August 2011 and posted on the EIA website. The report identified additional data that could be used to generate more

SPR CrudeOil Acquisition Procedures SPR CrudeOil Acquisition Procedures SPR CrudeOil Acquisition Procedures Section 301(e)(2) of the Energy Policy Act of 2005 (Public Law 109-58) directs the Secretary of Energy to develop procedures to acquire petroleum, subject to certain conditions, in quantities to fill the Strategic Petroleum Reserve (SPR) to the authorized one billion barrel capacity. On April 24, 2006, a Notice of Proposed Rulemaking (NOPR) for acquisition of crudeoil for the SPR was published in the Federal Register. The procedures include provisions for acquisition through several means, including direct purchase, by transfer of royalty oil from the Department of the Interior, and by receipt of premium barrels resulting from deferral of scheduled deliveries of petroleum for the Reserve.

Rising OilPrices Hit Chemical Industry ... Rising petroleum prices have dogged chemical makers for more than a year, and in the third quarter, the situation has only gotten worse. ... Although chemical makers had factored high feedstock costs into their planning, the recent sudden spikes in oil costs may have caught the industry off guard. ...

The structural-group composition of hydrocarbons of Mesozoic crudeoils near the Caspian depression was investigated by mass-spectrometry, followed by the analysis of the mass-spectra using a computer. The distribution of naphthenic hydrocarbons, according to the number of rings and of aromatic hydrocarbons, according to the degree of hydrogen unsaturation is similar for all the crudeoils examined. The hydrocarbon composition of Mesozoic crudeoils is characterized by a reduction in the content of aliphatic hydrocarbons and alkyl benzenes.

While world crudeprices continue their downward slide, the world is watching Mexico to see how it follows the trend. If the cut to be announced is too deep, petro-dollars will be sacrificed; if the cut is too modest, share of market may suffer. Just as Petroleos Mexicanos (PEMEX), the state oil company, was the means for overextension in borrowing and for wrong-headed administration, at this moment PEMEX is becoming the means for Mexico's restoration. While Mexico confronts its worst financial crisis since the revolution, PEMEX confronts its most difficult challenge since nationalization of the oil industry in 1938. To stop the compromising flood of petro-dollars out of PEMEX, the national oil company has been made subordinate to the Ministry of Energy, Mines, and State Industries. What Mexico is doing about the PEMEX crisis may be promotive of Mexican nationalism and international bankers' security at the same time. This issue presents the Energy Detente (1) fuel price/tax series and (2) industrial fuel prices for February 1983 for countries of the Western Hemisphere. 5 figures, 7 tables.

Abstract Oilprice stabilization polices are adopted extensively in developing countries. Some argue that developed economies, especially the US, may gain from these policies through trade. This paper studies this issue in a two-country model with dollar currency pricing. We find that the optimal level of oilprice stabilization chosen by developing countries and its implications for global welfare depend critically on whether monetary policy can effectively respond to oil shocks. In an environment without monetary shocks, when optimal monetary policies are considered, there is no role for oilprice stabilization in developing countries. However, to make the oilprice stabilization policy redundant, optimal monetary policy is not necessary. Some non-optimal endogenous monetary policies satisfying certain conditions can also make the developing countries choose zero oilprice stabilization. The results change when there are monetary shocks. Even with optimal monetary policies, the developing countries will choose a positive level of oilprice stabilization. However, due to dollar currency pricing, the US actually loses from the stabilization policy. Our results are well supported by the quantitative analysis in a full-fledged dynamic stochastic general equilibrium model.

China`s oil market is in transition, and this has dramatically shaped its crude and petroleum product balances. During the last five years (1989-1993), imports of crude and refined products increased rapidly, while exports of crude and refined products declined year after year. In 1993 petroleum product imports surged to a record high of 354,000 barrels per day (b/d) at the same time that crude imports also increased to a record high of 315,000 b/d. If we combine imports and exports of both crudeoil and products, China was a net oil importer of about 200,000 b/d during 1993. This marked the first time since 1960s that China has fallen into net oil importer status. Four major changes have characterized China`s oil imports and exports during the last two decades. First, China has made vigorous efforts to diversify its total exports away from oil-based goods to non-oil items. Second, the composition of oil exports has changed, shifting from dependence on crudeoil exports toward a greater proportion of finished or semi-finished products. Third, the oil import pattern has also shifted from primarily heavy products to primarily light products. Finally, Northern China has continued to export oil across the Pacific Basin, but Southern China has begun importing petroleum from Indonesia and the Middle East. These trends indicate that China will become increasingly vital to both the regional and global oil trade. Overall, Asian oil imports are expected to double in the next ten years.

With case studies, the practices, problems, and prospects of handling waxy crudeoils in Nigeria are discussed. Using a rotational viscometer, the temperature dependence of rheological properties and thixotropy of these crudes were determined. Suggestions are given on how to improve handling practices. These suggestions include adequate screening and ranking of wax inhibitors, taking into account pour-point depression, viscosity, and yield value.

Sample records for oil prices crude from the National Library of Energy Beta (NLEBeta)

Note: This page contains sample records for the topic "oil prices crude" from the National Library of EnergyBeta (NLEBeta).
While these samples are representative of the content of NLEBeta,
they are not comprehensive nor are they the most current set.
We encourage you to perform a real-time search of NLEBeta
to obtain the most current and comprehensive results.

Crudeoil and natural gas are important energy sources. Their prices in the U.S. are volatile and nominal rigidity does not play an important role. In addition, the law of one price between German and the U.S. markets holds quite well in the sense that the relative price exhibits stationarity. However, the natural gas prices in the two markets have diverged recently. We show that this is due to structural changes in the U.S. natural gas market rather than long term based contract prices in Germany. Nonetheless we conjecture future recovery of the law of one price.

This patent describes improvement in a process for flowing waxy crudeoil through a pipe line. The improvement comprises: applying ultrasonic energy to the flowing crudeoil prior to or after combining with the crudeoil a solution of polymeric wax crystal modifier whereby the gel strength of the crudeoil-wax crystal modifier is lowered.

The crudeoil from the Midway Sunset Field in California contains 70% non-distillable constituents called resid. Analysis of Midway Sunset crude components using standard analytical techniques such as GC and GC-MS is difficult due to the complex and intractable nature of the resid. Acidic components in crudes are of importance because the presence of these compounds results in problems related to pipe corrosion and waste-water contamination. Detailed characterization of the acidic components of Midway Sunset crude using high-resolution electron impact (HREI) and chemical ionization (HRCI) mass spectrometry have been undertaken.

Sample records for oil prices crude from the National Library of Energy Beta (NLEBeta)

Note: This page contains sample records for the topic "oil prices crude" from the National Library of EnergyBeta (NLEBeta).
While these samples are representative of the content of NLEBeta,
they are not comprehensive nor are they the most current set.
We encourage you to perform a real-time search of NLEBeta
to obtain the most current and comprehensive results.

The authors discuss the crudeoil from a new offshore field called the Lam Bank in the Caspian Sea. A segregated commercial crude was distilled and the distillation data is shown. In order to determine the content of n-paraffins, the naphthenic-paraffinic part of the narrow cuts was subjected to adsorptive separation on CaA zeolite. Owing to the high contents of naphthenic and isoparaffinic hydrocarbons and the low content of aromatic hydrocarbons in the distillate part, this crude can be used to produce high-quality fuels and oils by the use of the dewaxing processes.

The aim of the paper is to analyze the diversification effect brought by crudeoil Futures contracts, the most liquid commodity Futures, into a portfolio of stocks. The studies that have documented the very low- and essentially negative-correlations between commodities and equities typically rely on normally distributed returns, which is not the case for crudeoil Futures and stocks indexes. Moreover, the particular time-to-maturity chosen for the Future contract used as an investment vehicle is an important matter that needs to be addressed, in presence of forward curves switching between backwardation and contango shapes. Our goal in this paper is twofold: (a) we introduce copula functions to have a better representation of the dependence structure of oil Futures with equity indexes; (b) using this copula representation, we are able to analyze in a precise manner the “maturity effect” in the choice of crudeoil Future contract with respect to its diversification benefits. Our finding is that, in the case of distant maturities Futures, e.g., 18 months, the negative correlation effect is more pronounced whether stock prices increase or decrease. This property has the merit to avoid the hurdles of a frequent roll over while being quite desirable in the current trendless equity markets. Empirical evidence is exhibited on a database comprising the NYMEX WTI crudeoil Futures and S&P 500 index over a 15 year-time period.

Introduction to Macroeconomic Dynamics Special Issue on OilPrice Shocks Apostolos Serletisy in macroeconometrics and ...nancial econometrics to investigate the eÂ¤ects of oilprice shocks and uncertainty about the price of oil on the level of economic activity. JEL classi...cation: G31, E32, C32. Keywords: Oilprice

Methodology that recently lead us to predict to an amazing accuracy the date (July 11, 2008) of reverse of the oilprice up trend is briefly summarized and some further aspects of the related oilprice dynamics elaborated. This methodology is based on the concept of discrete scale invariance whose finance-prediction-oriented variant involves such elements as log-periodic self-similarity, the universal preferred scaling factor lambda=2, and allows a phenomenon of the "super-bubble". From this perspective the present (as of August 22, 2008) violent - but still log-periodically decelerating - decrease of the oilprices is associated with the decay of such a "super- bubble" that has started developing about one year ago on top of the longer-term oilprice increasing phase (normal bubble) whose ultimate termination is evaluated to occur in around mid 2010.

Compared with pipelining Newtonian fluid, the pipelining characteristics of the waxy crude pipeline are sensitive to the complicated rheological properties. When the temperature is lower than the wax appearance t...

Surface Properties of Basic Components Extracted from Petroleum CrudeOil ... Ratios in oils are inherited from source rock kerogens with minor change, are conserved during catagenesis and biodegrdn., are robust correlation parameters, and facilitate the classification of petroleums in terms of the depositional facies and lithol. of the source rock. ...

Extraction of Basic Components from Petroleum CrudeOil ... Ratios in oils are inherited from source rock kerogens with minor change, are conserved during catagenesis and biodegrdn., are robust correlation parameters, and facilitate the classification of petroleums in terms of the depositional facies and lithol. of the source rock. ...

Reproducibility of LCA Models of CrudeOil Production ... We examine LCA greenhouse gas (GHG) emissions models to test the reproducibility of their estimates for well-to-refinery inlet gate (WTR) GHG emissions. ... We use the Oil Production Greenhouse gas Emissions Estimator (OPGEE), an open source engineering-based life cycle assessment (LCA) model, as the reference model for this analysis. ...

oil market is weak-form efficiency while the WTI crudeoil market seems to be inefficiency on the 1994Â­2008 sub-period, suggesting that the deregulation have not improved the efficiency on the WTI crudeoil

OPEC’s actual production was mainly unrestricted until the 1973 Arab oil embargo. ... On the basis of the analysis of all 47 investigated oil producing countries, the results of our study estimated that the world ultimate reserve of crudeoil is around 2140 BSTB and that 1161 BSTB are remaining to be produced as of 2005 year end. ... MSTB/D = thousand stock tank barrels per day ...

crudeoil production expected to exceed oil imports later crudeoil production expected to exceed oil imports later this year U.S. crudeoil production is expected to surpass U.S. crudeoil imports by the fourth quarter of this year. That would mark the first time since February 1995 that domestic crudeoil output exceeds imports, according to the latest monthly energy outlook from the U.S. Energy Information Administration. The United States will still need to import crudeoil to help meet domestic demand. However, total crudeoil imports this year are on track to fall to their lowest level since 1997. U.S. oil production is expected to continue to rise over the next two years as imports fall. As a result, the share of total U.S. petroleum consumption met by net imports is forecast to fall to 32 percent next year, the lowest level since 1985 and nearly half the peak level of 60 percent seen in

Abstract The weak-form efficiency of energy futures markets has long been studied and empirical evidence suggests controversial conclusions. In this work, nonparametric methods are adopted to estimate the Hurst indexes of the WTI crudeoil futures prices (1983–2012) and a strict statistical test in the spirit of bootstrapping is put forward to verify the weak-form market efficiency hypothesis. The results show that the crudeoil futures market is efficient when the whole period is considered. When the whole series is divided into three sub-series separated by the outbreaks of the Gulf War and the Iraq War, it is found that the Gulf War reduced the efficiency of the market. If the sample is split into two sub-series based on the signing date of the North American Free Trade Agreement, the market is found to be inefficient in the sub-periods during which the Gulf War broke out. The same analysis on short-time series in moving windows shows that the market is inefficient only when some turbulent events occur, such as the oilprice crash in 1985, the Gulf war, and the oilprice crash in 2008.

This paper investigates the conditional correlations and volatility spillovers between the crudeoil and financial markets, based on crudeoil returns and stock index returns. Daily returns from 2 January 1998 to 4 November 2009 of the crudeoil spot, forward and futures prices from the WTI and Brent markets, and the FTSE100, NYSE, Dow Jones and S&P500 stock index returns, are analysed using the CCC model of Bollerslev (1990), VARMA-GARCH model of Ling and McAleer (2003), VARMA-AGARCH model of McAleer, Hoti, and Chan (2008), and DCC model of Engle (2002). Based on the CCC model, the estimates of conditional correlations for returns across markets are very low, and some are not statistically significant, which means the conditional shocks are correlated only in the same market and not across markets. However, the DCC estimates of the conditional correlations are always significant. This result makes it clear that the assumption of constant conditional correlations is not supported empirically. Surprisingly, the empirical results from the VARMA-GARCH and VARMA-AGARCH models provide little evidence of volatility spillovers between the crudeoil and financial markets. The evidence of asymmetric effects of negative and positive shocks of equal magnitude on the conditional variances suggests that VARMA-AGARCH is superior to VARMA-GARCH and CCC.

This draft: April 9, 2013 Abstract The price of crudeoil in the U.S. never exceeded $40 per barrel until mid price changes? We clarify the effects of speculators on commodity prices. We focus on crudeoil, but our approach can be applied to other commodities. We explain the meaning of "oilprice speculation," how it can

Sample records for oil prices crude from the National Library of Energy Beta (NLEBeta)

Note: This page contains sample records for the topic "oil prices crude" from the National Library of EnergyBeta (NLEBeta).
While these samples are representative of the content of NLEBeta,
they are not comprehensive nor are they the most current set.
We encourage you to perform a real-time search of NLEBeta
to obtain the most current and comprehensive results.

Application of Carbon Nanocatalysts in Upgrading Heavy CrudeOil Assisted with Microwave Heating, Stanford, California 94305, United States *S Supporting Information ABSTRACT: Heavy crudeoil can that by using carbon nano- catalysts, heavy crudeoil can be efficiently upgraded to lighter oil at a relatively

THE TOXICITY OF TWO CRUDEOILS AND KEROSINE TO CATTLE A Thesis by LOYD DOUGLAS ROWE Submitted to the Graduate College of Texas A&M University in partial fulfillment of the requirement for the degree of MASTER OF SCIENCE December 1972 Major... Subject: Veterinary Toxicology THE TOXICITY OF TWO CRUDEOILS AND KEROSINE TO CATTLE A Thesis by LOYD DOUGLAS ROWE Approved as to style and content by: i (Chairman of Committee) J (Head of De rtment) (Member) (Me er) December 1972 ABSTRACT...

BP Oil Spill and Air Chemistry Crudeoil contains various hydrocarbons NOAA and CIRES here at CU went to the oil spill in an aircraft that was equipped with instruments to measure the air quality. 1/3 of the oil dissolved into the water column (methane completely, benzene and ethane almost completely) Showed

1 Business Cycle Effects on Metal and OilPrices: Understanding the Price Retreat of 2008 of macroeconomic business cycles on six metals traded on the London Metal Exchange and oilprices. Reduced GDP oilprices (as a proxy for energy inputs in metals production) are derived. The estimated trend

This paper reports that the Commonwealth of Independent States' Kazakhstan republic is driving to achieve international export capability for its crudeoil production. Latest official figures showed Kazakhstan producing 532,000 b/d, or a little more than 5% of the C.I.S. total of 10.292 million b/d. As part of its oil export campaign, Kazakhstan agreed with Oman to a joint venture pipeline to ship oil from Kazakh fields, including supergiant Tengiz, earmarked for further development by a Chevron Corp. joint venture. In addition, Kazakh leaders were scheduled to conduct 3 days of talks last week with Turkish officials covering construction of a crudeoil pipeline to the Mediterranean Sea through Turkey.

In this paper, we provide two main innovations: (i) we analyze oilprices of two prominent markets namely West Texas Intermediate (WTI) and Brent using the two recently developed tests by Narayan and Popp (2010) and Liu and Narayan, 2010 both of which allow for two structural breaks in the data series; and (ii) the latter method is modified to include both symmetric and asymmetric volatility models. We identify two structural breaks that occur in 1990 and 2008 which coincidentally correspond to the Iraqi/Kuwait conflict and the global financial crisis, respectively. We find evidence of persistence and leverage effects in the oilprice volatility. While further extensions can be pursued, the consideration of asymmetric effects as well as structural breaks should not be jettisoned when modelling oilprice volatility.

A process for preparing an oil-in-water emulsion for pipeline transmission is described comprising: (a) shearing and mixing statically, without any dynamic shearing and mixing preceding or following the shearing and mixing statically, a hydrocarbon with an emulsifying composition comprising water and a minor amount of an emulsifying agent at a temperature of from about 100/sup 0/F. to about 200/sup 0/F. to form an oil-in-water emulsion having a viscosity sufficiently low for pipeline transmission, wherein the amount of water in the oil-in-water emulsion is from about 15% to about 60% by weight, and wherein the emulsifying agent is used in an amount sufficient to assist in the formation of the oil-in-water emulsion that is sufficiently stable for pipeline transmission; and wherein the emulsifying agent comprises about 50 percent by weight of an ethoxylated nonyl phenol compound.

Sample records for oil prices crude from the National Library of Energy Beta (NLEBeta)

Note: This page contains sample records for the topic "oil prices crude" from the National Library of EnergyBeta (NLEBeta).
While these samples are representative of the content of NLEBeta,
they are not comprehensive nor are they the most current set.
We encourage you to perform a real-time search of NLEBeta
to obtain the most current and comprehensive results.

Determination of Asphaltenes in CrudeOil and Petroleum Products by the on Column Precipitation Method ... An improved analytical method for the determination of asphaltene content in crudeoils and petroleum products was developed. ... Composition of heavy petroleums. ...

Modeling the transport and fate of spilled crudeoil is important for estimating short and long-term toxicity effects in coastal ecosystems. This research project investigates the partitioning of hydrocarbons from a surface crudeoil slick...

This study examines the role of oilprices in explaining ‘transport sector’ equity returns ... study are strongly supportive of some role for oilprices in determining the transport sector returns for ... asymmet...

The major determinant of real income growth in Korea is real oilprices, followed by money supply, exchange rates, ... longer horizon, the effects of exchange rates, oilprices, government spending, and money sup...

Today oil is the world’s major energy resource. It accounts for about 54 percent of the world’s total energy consumption. Because of conservation and the development of alternative resources in industrialized ...

The author discusses the flawed'' energy policy of the US that seems to be: protect access to Persian Gulf oil with every means at its disposal. He discusses in general terms the real cost of oil which should include the military cost of the continuing conflicts in the Middle East. Full-cycle measurement (from the point of origin to the point of use) to determine energy costs would show natural gas and alternative fuels in their true cost.

Design of CrudeOil Pre-heat Trains G.T.Po]Jey B.L.Yeap D.I.Wilson M.H.Panjeh Shahi Pinchtechnology.com Dept of Chern. Engng. Dept. of Chern. Engng. University of Cambridge University of Tehran Pre-heat trains differ from most other heat... recovery networks in a number of important ways. Combination offactors gives rise to the need for a design procedure specific to pre heat trains. Outlining these factors, we first observe that one cold stream (the incoming crude) dominates the heat...

This paper presents a novel approach to analyse the safety and reliability issues on the crudeoil unit in processing heavy oil. Based on the discussions of the corrosion mechanism, it uses fault tree analysis to identify the key factors that may lead to failure of crudeoil unit when processing heavy oil. It has found that factors such as temperature, consistence, relatively move speed and material, critically affect the corrosion rate of the naphthenic acid. In order to explore the relationships between the identified factors and the corrosion rate of the naphthenic acid, this paper uses artificial neural networks to identify such normally non-linear relationships. Laboratory experiments have been conducted to collect data of the corrosion rate using different materials in different temperatures, consistence and velocity. The analyses show that the proposed research method is sound and can be used in safety and reliability analysis of crudeoil unit in processing heavy oil.

Sample records for oil prices crude from the National Library of Energy Beta (NLEBeta)

Note: This page contains sample records for the topic "oil prices crude" from the National Library of EnergyBeta (NLEBeta).
While these samples are representative of the content of NLEBeta,
they are not comprehensive nor are they the most current set.
We encourage you to perform a real-time search of NLEBeta
to obtain the most current and comprehensive results.

Studies in which selective chemical markers have been used to explore the mechanisms by which biocatalysts interact with heavy crudeoils have shown that the biochemical reactions follow distinct trends. The term biocatalyst refers to a group of extremophilic microorganisms which, under the experimental conditions used, interact with heavy crudeoils to (1) cause a redistribution of hydrocarbons, (2) cause chemical changes in oil fractions containing sulfur compounds and lower the sulfur content, (3) decrease organic nitrogen content, and (4) decrease the concentration of trace metals. Current data indicate that the overall effect is due to simultaneous reactions yielding products with relatively higher concentration of saturates and lower concentrations of aromatics and resins. The compositional changes depend on the microbial species and the chemistry of the crudes. Economic analysis of a potential technology based on the available data indicate that such a technology, used in a pre-refinery mode, may be cost efficient and promising. In the present paper, the background of oil biocatalysis and some recent results will be discussed.

Studies in which selective chemical markers have been used to explore the mechanisms by which biocatalysts interact with heavy crudeoils have shown that the biochemical reactions follow distinct trends. The term biocatalyst refers to a group of extremophilic microorganisms which, under the experimental conditions used, interact with heavy crudeoils to (1) cause a redistribution of hydrocarbons, (2) cause chemical changes in oil fractions containing sulfur compounds and lower the sulfur content, (3) decrease organic nitrogen content, and (4) decrease the concentration of trace metals. Current data indicate that the overall effect is due to simultaneous reactions yielding products with relatively higher concentration of saturates and lower concentrations of aromatics and resins. The compositional changes depend on the microbial species and the chemistry of the crudes. Economic analysis of a potential technology based on the available data indicate that such a technology, used in a pre-refinery mode, may be cost efficient and promising. In the present paper, the background of oil biocatalysis and some recent results will be discussed.

Wettability of Petroleum Pipelines: Influence of CrudeOil and Pipeline Material in Relation to Hydrate Deposition ... In the present work, various solid surfaces and crudeoils have been used to study the effect of material and crudeoil composition on the wettability of pipeline-mimicking surfaces. ... A procedure for evaluation of the plugging potential and for identification and extn. of naturally hydrate inhibiting components in crude petroleums was presented. ...

Important Terms Important Terms PETROLEUM PRICES Refiner acquisition cost of crudeoil (RAC): The average monthly cost of crudeoil to U.S. refiners, including transportation and fees. The composite cost is the weighted average of domestic and imported crudeoil costs. Typically, the imported RAC is about $1.50 per barrel below the monthly average spot price of West Texas Intermediate (WTI) crudeoil and is within about $0.20 per barrel of the average monthly spot price of Brent crudeoil. Unless otherwise stated, the imported RAC is what is referred to in this report as the 'world oilprice" or "average crudeoilprice." Retail motor gasoline prices: The average pump prices for gasoline reported in the Short-term Energy Outlook are derived from the Energy Information

The Bartlesville Energy Technology Center (BETC) of the Deopartment of Energy (DOE) and the US Army Fuels and Lubricants Research laboratory (AFLRL) at Southwest Research Institute (SwRI) have been working together on a support effort for the Strategic Petroleum Reserve Office (SPRO) of DOE. One task within this effort was a detailed literature survey of previous experiences in long-term storage of crudeoil and finished fuels with an emphasis on underground storage. Based on the discussion presented in this review, in the limited number of cases reported, the refinability of crudeoil was not significantly affected by prolonged storage. It was found that most crudes will deposit a sludge during storage which may interfere with withdrawal pumping. This sludge is probably composed of wax, sediment, water, and possibly asphaltenes. Emulsions of the water-oil interface have been reported after prolonged storage which have been attributed to action of centrifugal pumps used to remove accumulated seepage water. It is possible that these emulsions resulted from biological activity, such as the anaerobic activity reported, but no hydrogen sulfide production was observed.

Alaska Prudhoe Bay CrudeOil Shut-in Alaska Prudhoe Bay CrudeOil Shut-in Facts and Impacts on the U.S. Oil Markets As of Thursday, August 10, 10:00 am Background on Alaska Crude Production and Transport Alaska ranks second, after Texas, among the States in crudeoil reserves. On December 31, 2004, Alaska's proved reserves totaled 4,327 million barrels. Although Alaska's production declined from 2 million barrels per day (bbl/d) in 1988 to 864,000 bbl/d in 2005, it is still the second largest oil producing State when Federal offshore production is excluded. Alaskan Production Graph of US CrudeOil Production figure data The Trans-Alaska Pipeline Systems (TAPS) connects the North Slope oil fields with the Port of Valdez in southern Alaska. From Valdez, crudeoil is shipped primarily to refineries located on the U.S. West Coast.

This article presents data to show that the lube cuts from the Baku medium-wax crudes, in contrast to the eastern medium-wax crudes, will not give oils with viscosity indexes above 90 even when severly treated. The medium-wax Baku crudes have higher contents of naphthenic-paraffinic hydrocarbons, and their aromatic hydrocarbons are present in smaller amounts and have poorer viscosity-temperature properties. The Baku refineries have become the principal suppliers of lube oils in the USSR because of their use of low-wax crudes and relatively simple manufacturing processes. In recent years, the resources of low-wax crudes have declined while the medium-wax crudes have increased. The Baku medium-wax crudes are distinguished by higher contents of oils, including residual oils. It is concluded that the Baku medium-wax crudes should be processed to produce oils that are in short supply, such as transformer oils, turbine oils, compressor oils, high-viscosity oils of the P-28 type, and special-purpose oils (e.g., white oils, naphthenic oils) for which a high viscosity index is not a requirement. The medium-wax crudes from the eastern districts should be used to produce oils with viscosity indexes above 90. Includes 5 tables.

......petroleum products and wastes at the Tema oil refinery...radionuclides in the wastes than the crudeoil and...monitoring to establish long-term effect on both public...accumulate at the bottom of storage tanks, tubings and other...uncontrolled release of waste containing TENORM, concentrated......

This paper examines the time series properties of daily spot and futures prices for three petroleum types traded at five commodity centers within and outside the United States. Examining five combinations of the spot and futures prices by petroleum type and trading center, the cointegration tests of each of these five groups suggest that spot and futures contracts offer little room for long-run commodity portfolio diversification. In the West Texas Intermediate (WTI) crude-oil group, the VEC model indicates that the New York Mercantile Exchange (NYMEX) 1-month futures price has the upper hand in terms of directional causality and volatility spillovers. In the NYMEX gasoline system, there are bi-directional causality relationships among all the gasoline spot and futures prices, but the spot price produces the greatest spillover. In the NYMEX heating oil system, information transmission and predictability among the spot, 1- and 3-month futures are found to be particularly strong and significant. In the international gasoline spot market, contrary to the world crude-oil market, there is no apparent world gasoline spot leader for the gasoline spot prices.

Issue Second Solicitation for Purchase of CrudeOil for the Issue Second Solicitation for Purchase of CrudeOil for the Strategic Petroleum Reserve DOE to Issue Second Solicitation for Purchase of CrudeOil for the Strategic Petroleum Reserve April 18, 2007 - 12:36pm Addthis Solicitation Issued for Up to Four Million Barrels WASHINGTON, DC - The U.S. Department of Energy (DOE) today announced that it has issued the second of several solicitations planned to purchase up to four million barrels of crudeoil for the United States' crudeoil reserve. The first solicitation, issued March 16, 2007, resulted in no awards because the Office of Fossil Energy determined that the bids were too high and not a reasonable value for taxpayers. This series of solicitations for the purchase of crudeoil are planned to replace the 11 million barrels of oil sold after Hurricane Katrina. The

Identification of R&D needs relating to tbe mitigation of fouling in crudeoil pre-heat trains G.T.Polley ESDU International pic Worrell & Price [1] (at a paper presented at the Industrial Energy Technology Conference organised by Texas A... - but not always flows through the tubes). The threshold occurs because of the existence of two competing processes: one promoting fouling, the other mitigating against it. Models for the prediction of this threshold have been derived from measurements...

Biodesulfurization offers an attractive alternative to conventional hydrodesulfurization due to the mild operating conditions and reaction specificity afforded by the biocatalyst. The enzymatic pathway existing in Rhodococcus has been demonstrated to oxidatively desulfhrize the organic sulfbr occurring in dibenzothiophene while leaving the hydrocarbon intact. In order for biodesulfiization to realize commercial success, a variety of process considerations must be addressed including reaction rate, emulsion formation and breakage, biocatalyst recovery, and both gas and liquid mass transport. This study compares batch stirred to electro-spray bioreactors in the biodesulfurization of both model organics and actual crudes in terms of their operating costs, ability to make and break emulsions, ability to effect efficient reaction rates and enhance mass transport. Further, sulfim speciation in crudeoil is assessed and compared to the sulfur specificity of currently available biocatalyst.

option contract states an agreed price for a crudeoil transaction 3 months in the future of the date depends on the current crudeoil market price and expectations concerning price movements. Although period. Option con- tracts are one simple kind of financial derivative. For example, a 3-month crudeoil

Sample records for oil prices crude from the National Library of Energy Beta (NLEBeta)

Note: This page contains sample records for the topic "oil prices crude" from the National Library of EnergyBeta (NLEBeta).
While these samples are representative of the content of NLEBeta,
they are not comprehensive nor are they the most current set.
We encourage you to perform a real-time search of NLEBeta
to obtain the most current and comprehensive results.

Lower OilPrices: A Reason to Give Thanks By GENE EPSTEIN Nov. 29, 2014 1:31 a.m. ET I give thanks thanks for an oilprice that fell below $70 a barrel Friday, mainly because it bodes well for general early this year ("Here Comes $75 Oil," March 31). Amy Jaffe, executive director of energy

United States Producing and Nonproducing CrudeOil and Natural Gas Reserves From 1985 Through 2004 By Philip M. Budzik Abstract The Form EIA-23 survey of crudeoil and natural gas producer reserves permits reserves to be differentiated into producing reserves, i.e., those reserves which are available to the crudeoil and natural gas markets, and nonproducing reserves, i.e., those reserves which are unavailable to the crudeoil and natural gas markets. The proportion of nonproducing reserves relative to total reserves grew for both crudeoil and natural gas from 1985 through 2004, and this growth is apparent in almost every major domestic production region. However, the growth patterns in nonproducing crudeoil and natural gas reserves are

For oil related investment appraisal, an accurate description of the evolving uncertainty in the oilprice is essential. For example, when using real option theory to value an investment, a density function for the future price of oil is central to the option valuation. The literature on oilpricing offers two views. The arbitrage pricing theory literature for oil suggests geometric Brownian motion and mean reversion models. Empirically driven literature suggests ARMA–GARCH models. In addition to reflecting the volatility of the market, the density function of future prices should also incorporate the uncertainty due to price jumps, a common occurrence in the oil market. In this study, the accuracy of density forecasts for up to a year ahead is the major criterion for a comparison of a range of models of oilprice behaviour, both those proposed in the literature and following from data analysis. The Kullbach Leibler information criterion is used to measure the accuracy of density forecasts. Using two crudeoilprice series, Brent and West Texas Intermediate (WTI) representing the US market, we demonstrate that accurate density forecasts are achievable for up to nearly two years ahead using a mixture of two Gaussians innovation processes with GARCH and no mean reversion.

Monitoring wellhead pressure evolution is the best method of detecting crudeoil leaks in SPR caverns while oil/brine interface depth measurements provide additional insight. However, to fully utilize the information provided by these interface depth measurements, a thorough understanding of how the interface movement corresponds to cavern phenomena, such as salt creep, crudeoil leakage, and temperature equilibration, as well as to wellhead pressure, is required. The time evolution of the oil/brine interface depth is a function of several opposing factors. Cavern closure due to salt creep and crudeoil leakage, if present, move the interface upward. Brine removal and temperature equilibration of the oil/brine system move the interface downward. Therefore, the relative magnitudes of these factors determine the net direction of interface movement. Using a mass balance on the cavern fluids, coupled with a simplified salt creep model for closure in SPR caverns, the movement of the oil/brine interface has been predicted for varying cavern configurations, including both right-cylindrical and carrot-shaped caverns. Three different cavern depths and operating pressures have been investigated. In addition, the caverns were investigated at four different points in time, allowing for varying extents of temperature equilibration. Time dependent interface depth changes of a few inches to a few feet were found to be characteristic of the range of cases studied. 5 refs, 19 figs., 1 tab.

Sale of 11 Million Barrels of CrudeOil Sale of 11 Million Barrels of CrudeOil from the Nation's Strategic Petroleum Reserve Secretary Bodman Announces Sale of 11 Million Barrels of CrudeOil from the Nation's Strategic Petroleum Reserve September 14, 2005 - 10:21am Addthis WASHINGTON, DC - Secretary Samuel W. Bodman announced that the Department of Energy has approved bids for the sale of 11 million barrels of crudeoil from the Strategic Petroleum Reserve (SPR). Combined with the 12.6 million barrels of crude previously approved for loans these SPR releases, in response to the disruptions caused by Hurricane Katrina, will provide 23.6 million barrels of crude for the U.S. market. "The United States is committed to using all of the tools at our disposal to help keep our oil and gasoline markets well supplied," Secretary Bodman

The paper considers the Russian market of oil products and provides a model of this ... of which suggests approaches to forecasting the internal prices of oil producers within one scenario of economic development...